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Emirates NBD launches new auto loans
Emirates NBD is to broaden its existing auto finance offerings with the launch of brand new auto loans packages, which provides Emirates NBD existing and potential customers with 'road-ready' loans. The new offering features complimentary Salik card, online Salik recharge, Road Transport Authority and Dubai police fine payments, annual car registration renewal service, roadside assistance, a free bank account, a free credit card for the first year and motor insurance with preferred pricing.
Audi ME sales up in October
Audi Middle East has said in a statement that its October sales results have increased to 42% over its 2007 performance in October and are 21% higher for 2008 overall, compared to the year before. According to a senior executive of the company, Audi switched to US dollar invoicing in 2006 as it looks into continued stability in prices as well as resale values.
Banks rejecting more car loans in Gulf
A General Motors official said the number of vehicle loan applications being rejected by banks in the Middle East has risen from 5% to more than 20% due to the global financial crisis, Gulf News has reported. The UAE and Qatar are among the markets that have seen a significant rise in these cases. The situation is different in Saudi Arabia, where there are more cash buyers than customers purchasing cars through bank financing, General Motors Middle East operations president Mike Devereux said.
Supercar club set to open in Dubai
The Middle East's first supercar club is set to launch early next year. The directors of Scuderia 250 say club members will enjoy access to a variety of the world's ultimate supercars in addition to delivery, collection, an advanced driver safety programme and premier access to luxury events. The Dubai club will officially launch at a media event in the emirate in December 2008, with an operating start in early 2009, soon to be followed by Scuderia 250 Abu Dhabi.
New Mazda6 Ultra to debut
The all-new Mazda6 Ultra will be unveiled at the Motor Show in Oman. The car's MZI 3.7 V6 engine produces a rousing 275 BHP of power at 6,000rpm and 365Nm of torque at 4,250rpm, while the MZR 2.5 four-cylinder powerplant generates 1188 BHP at 6,000rpm. A six-speed activematic transmission with Active Adaptive Shift (AAS) control is standard equipment for the V6 engine model. The car also offers a more extensive equipment list including dynamic stability control, an advanced smart keyless entry system, and independent rear cooling vents.
Kia launches Mohave in Kuwait
Kia Motors recently launched its new Mohave car in Kuwait. Dr Sulman Asoussi, Quality Production Vice Chairman said that for Kia it is 'a dream come true'. He added the Mohave is a strong car and well suited to Kuwait's seasons. Since Kia Motors was established in Kuwait in 1997 40,000 Kia cars have been sold, with the Kia accounting for 5% of Kuwait's car market.
Top models on display at Qatar's Car Show
The PrivatDrive Super Car Show held at The Pearl Qatar over the weekend boasted a spectacular line-up of BMW Group models including Rolls-Royce, BMW, and MINI displayed by Alfardan Automobiles. Top models of Ferraris, Maseratis, Jaguar, Land Rover, KTM, motorcycles, Ducati bikes, Vespa, Piaggio, and Triumph were also at the show.
Mitsubishi Eclipse launches in Bahrain
Zayani Motors has launched into the Bahrain market the new Mitsubishi Lancer Eclipse 2009. The 2009 Eclipse is a 3.8-liter MIVEC V6 that delivers from 263 horsepower to 265 horses at 5750 rpm. The V6 is offered with a standard six-speed manual or an optional five-speed automatic transmission whilst the GS comes with a 162-horsepower 2.4-liter four-cylinder engine.
UAE auto sales may slow
Automobile sales growth in the UAE could decline next year when the impact of the global financial crisis hits the region, reported Gulf News. Other factors that are likely to hinder sales growth are job cuts and a slowdown in the local real estate sector, the credit squeeze imposed by banks, perennial traffic congestion on Dubai's roads and tightened rules over the issuance of new driving licences.
Suzuki sales jump 180% in UAE
Al Rostamani Trading Co., Suzuki's sole distributor in the UAE, has announced that it has achieved 180% growth in sales for Suzuki vehicles in the UAE for the period January to October 2008, compared to the same period last year.
Arabian Automobiles predicts record-breaking year
Arabian Automobiles, exclusive dealer for Nissan, Infiniti and Renault vehicles in Dubai and the Northern Emirates, remains upbeat about future growth, despite the gloomy economic forecasts. The company is confident that it will be able to achieve sales of 40,000 vehicles in FY2008 in this, the company's 40th year in business.
TAC Launches Car-Leasing Division
Towell Auto Centre (TAC) has announced the launch of its car-leasing division. The Leasing Division is located at Al Ghubra in Muscat and offers a multi-brand leasing facility. S. Kasthurirengan, CEO, TAC said the company aims to be the first preferential car rental and leasing company in Oman by providing excellent service to clients and by opening leasing offices in other parts of the country.
Egypt's GB Auto's posts 72% increase
GB Auto, Egypt's only publicly traded automotive company, posted a net income of LE417m for the first nine months of 2008, a 72% increase over the same period in 2007. The company reported sales of 44,198 passenger cars. The company's gross profit margin rose to 17.7%, an increase of 3.6%.
World's largest Mercedes Benz facility to open in UAE
The world's largest Mercedez Benz facility is being set up in the Mussafah district of Abu Dhabi. Launched by Al Fahim Group's Emirates Motor Company and scheduled to be operational in the first quarter of 2009, the facility, which will span a total area of one million square feet, will feature a 4,382 sq metre showroom, 20,873 sq metre service centre with over 250 work-bays, 7,196 sq metre for spare parts, a multi-story parking lot and staff accommodation.
Cadillac Escalade Platinum to go on sale in ME
The new ultra-luxury Platinum Edition of the Cadillac Escalad is set to go on sale in the Middle East in December. The Escalade Platinum will be one of the most technically advanced SUVs with the addition of segment-first LED headlamps, offering greater lighting with reduced energy, and the world's fastest-acting suspension - Cadillac's Magnetic Ride Control, which gives more precise body motion control.
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