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FinancialNews
16-08-22
UAE automotive market sees 9.3 percent surge in sales in H1
(MENAFN) The entire automotive market in the UAE has posted a 9.3 percent surge in the first 6 months of this year in comparison with the same period of last year, with the overall units traded in June saw an increase of 8.1 percent on a yearly basis.
Al-Futtaim Automotive, which the data showed that, SUVs remain to rule the UAE market, making a 50.5 percent rise in sales for the January-June period of this year.
The distributor stated in an announcement that Al-Futtaim Automotive, which includes Al-Futtaim Toyota as well as Lexus, Trading Enterprises (Honda, Volvo, Jeep, RAM, Dodge and Polestar between its brands), stated that it ended the first six months of the year with 5.7 percent jump in capacity annually and overall market stake of 35.4 percent.
The announcement also mentioned that “New car sales are expected to increase by up to 30 per cent in 2022, as more brands are introduced to the market and production and shipments get up to speed with consumer demands.”
MENAFN16082022000045014228ID1104702094
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