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Aabar buys 9% Daimler stake
Aabar Investment, which is owned by the government of Abu Dhabi, has announced that it has bought a 9.1% stake in Germany-based Daimler in a deal worth $2.72bn. The new deal will make the Abu Dhabi firm the biggest shareholder in Daimler besides the 6.9% owned by Kuwait government.
Tata Nano on sale in India
The world's cheapest car, Tata Motors' Nano, is expected to hit the roads of the Indian city of Mumbai today. The small car, which will cost around $1,900, is expected to be well received locally and internationally, although its Gulf roll out will be delayed as the car must be upgraded to meet safety requirements.
Qatar car rental firms hike tariffs
Some Qatar rent-a-car companies have hiked their tariffs up by at least 10 to 20%. There are no rules regulating the rentals and they vary from one company to another. Car rental tariffs vary also according to brand and the age of the vehicle. Models starting from 2007 and above cost more compared to older ones.
Isuzu marketing office opens at DAFZ
Isuzu Motors has announced the opening of their marketing office in the Dubai Airport Free Zone (DAFZ) covering the Gulf, Middle East and Africa region. Isuzu Motors is a part of Mitsubisihi Corporation who also have their offices at the DAFZ. Takatoshi Hiroshe, General Manager of Isuzu Motors Limited said the Dubai office will support the activities of Isuzu's distributors in the GCC, Lebanon, Syria, Jordan and Yemen.
Jordan Toyota dealer expands in Aqaba
Al-Markazia, the exclusive dealer of Toyota, Lexus, Hino and Denso in Jordan has expanded in Aqaba, purchasing new lands to build new warehouses for its cars supply. The new warehouses will house cars and spare parts shipments of Toyota, Lexus, Hino and Denso.
BMW to 'focus on cash'
Car manufacturer BMW has said that it will be impossible to to forecast a reliable financial outlook for 2009 as global sales are expected to fall by 20%. The company sees 2009 as a 'transition year' in which it will look to conserve its independence by managing cash flows and retaining liquidity.
New Porsche Boxster and Cayman on sale in Dubai
Porsche Centre Dubai, Al Nabooda Automobiles has launched the latest generation of Boxster and Cayman models in the emirate. Both of the new generation cars feature the Porsche-Doppelkupplungsgetriebe gearbox - or PDK for short. The unique double-clutch gearbox was first used by Porsche in its race cars in the 80s and recently introduced in the new generation of the 911, according to a press statement.
Aston Martin CEO says owner won't sell stake
The head of Aston Martin Lagonda said today he doesn't expect the luxury carmaker to be sold by its owner, Kuwait-based Investment Dar, which is disposing of many of its assets to help reduce its financial obligations, reported Bloomberg. Investment Dar, which owns a 50% stake in the automaker, said yesterday that it may sell 'non-core assets' as part of a new strategy of focusing on unspecified parts of its banking, real-estate and luxury-goods operations.
Al Tayer Motors records 22% increase in sales in 2008
The Sheikh Zayed Road showroom of Al Tayer Motors topped annual worldwide sales for Land Rover from a single facility for the third consecutive year in 2008. Al Tayer Motors recorded the highest sales in the Middle East and North Africa (Mena) region with a 22% increase in 2008 over 2007. Range Rover Sport saw an increase of 23%.
Audi launches Q5 in GCC
The Audi Centre has launched its latest model, the five-seater SUV Audi Q5, at the Bahrain Yacht Club. Senior Audi Bahrain official, Peter Kruger said the new Q5 combines the dynamism of a sports sedan with a highly variable interior and versatile options for leisure-time and family use. The Audi Q5, which has also been launched in Dubai and Abu Dhabi, is available from $44,000.
BMW Z4 Roadster to arrive in April
BMW's latest BMW Z4 Roadster, which was recently unveiled at the 2009 Detroit Motor Show will arrive in the Middle East in April 2009. Featuring a new 6-cylinder engine, double-clutch gearbox and BMW M suspension with two damper settings, the new model is expected to outperform its predecessor model in the Middle East.
Qatar dealer offers free roadside assistance
Buyer Infiniti purchased from exclusive Qatar dealer Saleh Al Hamad Al Mana is giving buyers of new Infinitis one year complimentary membership in Raha Auto Assistance, Qatar's first patrol-based, on-the-spot roadside vehicle repair and recovery service. Raha is the largest automotive roadside assistance service in Qatar, with a fleet of over 30 Raha Patrols providing 24/7 on-the-spot repair and emergency recovery service for vehicles up to 10 years of age, including new vehicles, according to a press statement.
Global BMW sales fall 24.4%
Global sales of BMW cars fell 24.4% in February to 80,453 vehicles, the company said. The Mini brand recorded an even sharper decline, but the drop was due in part to the late March roll-out of the next generation Mini Cabrio. Last week, rival Mercedes-Benz Cars posted a 25.4% dip in February sales to 72,200 vehicles.
Volvo XC60 buyers get 40% discount on insurance
Volvo Cars Middle East has signed a deal with Kuwait-based Takafuliyah Insurance Brokers granting a 40% discount on insurance to purchasers of the new Volvo XC60. The insurance company cited that car's unique technology for avoiding low-speed collisions in city traffic and tailbacks as the reason for its decision to offer the discount.
Vintage Rolls Royces to tour region
A group of 70 vintage Rolls-Royce cars representing the history of the brand, will tour the region, beginning in Doha. The oldest entrant is from 1912. The luxury car manufacturer reported a 48% increase in sales for the Phantom family in 2008 over 2007. Each car is individually hand built.
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