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Arabian Automobiles eyes growth outside UAE
Arabian Automobiles, the exclusive dealer for Nissan, Infiniti and Renault in Dubai and the northern emirates, is interested in expanding into new overseas markets after signing a distributorship deal for Iraq last month, CEO Michel Ayat told Gulf News. The company is discussing potential partnerships with top brands to grow its presence outside the UAE as part of its aim at doubling its revenues in three years, he said.
Jaguar's XFR arrives in Jordan
Jaguar's new XFR sportscar is now on sale in Jordan, according to Mahmoudia Motors, which sells Jaguar and Volvo vehicles in the kingdom. The XFR is powered by the all-new supercharged 510PS (510bhp SAE) V8 that can propel the car from 0-60mph in just 4.7 seconds.
Mercedes E-Class launched in Bahrain
The Mercedes-Benz E-Class has been launched in Bahrain by Al Haddad Motors, the brand's official distributor. Features include a drowsiness detection system and the proximity control system which is capable of performing automatic emergency braking when there is acute danger of a collision. The first models to be launched in Bahrain are the E300 and the E350.
Toyota posts $4.4bn net loss
Toyota has reported a $4.4bn net loss for fiscal year which ended March 2009. The company has reported more than 21% slump in sales, forecasting performance could bring $8.6bn loss for the fiscal year through March 2010.
BMW, MINI sales surge in Saudi
Anees Jamjoom, managing director of Mohamed Yousuf Naghi Motors, the exclusive importer of BMW and MINI in Saudi Arabia, has told the Saudi Gazette that the company has achieved a 15% growth in sales during the first quarter of 2009 compared to the same period of last year. Jamjoom said that the top selling model was the BMW 7 Series with a 132% increase in sales, which follows the recent arrival of the new fifth generation 740Li and 750Li models that succeed the predecessor model launched eight years ago.
Porsche and VW to join brands
Porsche Automobil Holding has agreed to explore a merger with Volkswagen. The two companies said they had agreed on a blueprint to create an 'integrated car manufacturing group' within four weeks. Under the new group, '10 brands shall stand below an integrative leading company,' Porsche said in a statement. Volkswagen has been in charge of nine brands - Volkswagen, Lamborghini, Skoda, Bentley, Bugatti, Audi, Scania, Seat and Volkswagen Commercial Vehicles, while Porsche Automobil Holding has run the sports car brand independently.
Samand plant to open in Syria
Hossein Moqis, head of the Syrian-Iranian Automotive Manufacturing Company has said that the full production line of the national Iranian automobile, Samand, will be inaugurated on May 7 in vicinity of Damascus, Syria. Moqis also said the full process of production including body, paint and final assembling of the automobiles will be performed at the plant.
Al Jenaibi offers Rolls Royce test drives
Al Jenaibi International Automobiles, Oman's authorized dealer for Rolls-Royce is offering 'Drive of Distinction' test drives for Rolls-Royce's Phantom, Drophead and Coupe. 'Many liked the cars but were keen on a test drive before deciding to buy such a high-priced vehicle. So we decided to give them a chance,' says Pankaj Joshi, marketing manager, Al Jenaibi International Automobiles.
Galadari Autos arranges Mazda finance deal
Galadari Automobiles have signed arrangements with a number of banks and financial institutions to offer easy auto loans with on purchases of Mazda cars. The terms include 0% down payment, and low monthly EMI's, according to the group. Galadari Automobiles is the sole UAE distributor of Mazda cars.
GM plans Middle East growth
Mike Devereux, president of General Motors Middle East Operations has said the automaker's regional sales fell 19% in Q1 2009. Devereux said restructuring of GM in the United States would not stand in the way of regional expansion. 'We will be profitable this year too, but much less so than last year,' Devereux said. GM sold 144,485 units in the region last year.
Audi offers 90 minute service
Audi Middle East has announced that it is to offer customers a complete regular service with oil change within 90 minutes, provided that an advance booking is made and no additional services are required. The offer will be available in the GCC, Syria, Jordan and Lebanon.
BMW sales soar 116% in Syria
Syria's exclusive BMW distributor, Bahi Motors has reported a 116% growth in BMW sales for Q1 2009, compared to its performance in 2008 during the same period. BMW 7 Series is the top selling model achieving 423% increase in sales, followed by the BMW 3 Series with a 127% sales increase.
Fiat expected to buy into Chrysler
Fiat is expected to take a sizeable stake in Chrysler if, as expected, the US car giant files for Chapter 11 protection today, after talks broke down yesterday between the US Treasury Department and lenders to keep it out of bankruptcy. The talks aimed to reduce the car giant's debt with lenders and hedge funds. According to the Wall Street Journal, the Treasury Department offered to pay them $2.25bn in cash if they wrote off $9bn in debt, but they refused. If Fiat does become the new owner, it is likely to can hundreds of auto dealers from its sales network.
Qatar may buy stake in Porsche
Qatari Prime Minister Sheikh Hamad bin Jassem al-Thani told Qatar's Al-Arab newspaper that the emirate is 'seriously' considering buying a stake in Germany's Porsche, and may also invest in other carmakers. 'We are looking into this issue, but we have yet to make a final decision on the matter ... There are meetings,' Sheikh Hamad was quoted as saying by the Qatar News Agency.
New S400 hybrid to go on sale in September
The first hybrid luxury sedan in the world with a lithium-ion battery will go on sale in the Middle East & Levant in September this year, according to Mercedes Benz. The new Mercedes-Benz S400 will be the most economical petrol-engined luxury saloon, the company said. The fuel consumption of 7.9 litres per 100 kilometres corresponds to carbon dioxide emissions of just 186 grammes per kilometre, which is the lowest level worldwide in this vehicle segment.
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