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UAE auto market tops in region
- United Arab Emirates: Thursday, December 04 - 2008 at 09:22
The UAE automotive market continues to outperform regional peers and is one of the fastest growing markets in the world, according to BMI's latest UAE Automotives Report. Car sales in the UAE rose by 37% year-on-year in the first half of the year, the highest growth among the markets of the Gulf. In a country where the cost of living is accelerating, the market will be increasingly price responsive, giving non-luxury brands potential for growth through their top-of-the-range models, which tend to be priced lower than their luxury brand equivalents. BMI expects price discounting in an increasingly competitive market, with the exchange rate set to determine demand, giving US manufactured vehicles an edge over European and Japanese rivals.
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Jeff Florian, Senior ReporterThursday, December 04 - 2008 at 09:22 UAE local time (GMT+4)
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