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Middle East Market “Will Fall To 2006 Levels”

Posted on Apr 8, 2009 by

middle east market will fall to 2006 levels Middle East Market Will Fall To 2006 LevelsThe Middle East will lose three years of progress in new car sales due to the financial crisis, according to the head of one of the region’s biggest car dealerships.

Michel Ayat, CEO of Arabian Automobiles, said he expected sales levels for 2009 to be similar to those of 2006.

Speaking at the launch of the Nissan Murano in Dubai, Mr Ayat said: “In 2008 in the GCC saw a phenomenal business growth and the market scored a total of 1,300,000 units.

“In the first two months of 2009, in the UAE, we realised that there was a drop of 42% compared to the same period of last year. No one can really predict, because the market dynamics could change from one quarter to another. But personally, I feel the region in the GCC will go back to something below one million in 2009 before it picks up again in 2010.

“In 2006 was 956,000 so I believe that the region will go down below the one million figure.

“In the UAE we are badly impacted, especially in Dubai. The challenge is how to get out of this crisis better than our rivals. 2009 is a challenging year. The 355,000 sales that we achieved in the fiscal year 2008/2009 will be impossible to reach this year. We will be lucky to hit 60 to 65 percent of that. Hopefully things will be ok in the second half of the year.”

Arabian Automobiles is the distributor for Nissan, Infiniti and Renault in Dubai and the Northern Emirates.

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“In 2006 was 956,000 so I believe that the region will go down below the one million figure.

“In the UAE we are badly impacted, especially in Dubai. The challenge is how to get out of this crisis better than our rivals. 2009 is a challenging year. The 355,000 sales that we achieved in the fiscal year 2008/2009 will be impossible to reach this year. We will be lucky to hit 60 to 65 percent of that. Hopefully things will be ok in the second half of the year.”

Arabian Automobiles is the distributor for Nissan, Infiniti and Renault in Dubai and the Northern Emirates.

Image Gallery 

 

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