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08-08-22
UAE automotive market records 9.3 percent surge annually in H1
(MENAFN) The entire automotive market in the UAE has registered a 9.3 percent expansion in the first 6 months of this year in comparison with the same period last year, with the whole units traded in June jumping 8.1 percent on an annual basis.
Al-Futtaim Automotive, which showed the figures stated that, SUVs remain to lead the UAE market, contributing in 50.5 percent of sales for the January-June period of 2022.
In line with a report by Market Research UAE, the UAE automotive market has revealed indications of regain with encouraging sales throughout the board after falling two years ago throughout the Covid-19 epidemic.
Passenger car sales profits is estimated to amount to USD5.8 billion in 2022, after the request bounced back to full throttle from August to September last year, however, throughout that span of time, consumer interest even surpassed before-Covid-19 figures.
The report 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.”
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