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UAE new car sales top 20%
- United Arab Emirates: Sunday, September 23 - 2012 at 09:10
Atsuo Kosaka, the managing director of Nissan Middle East FZE has said new car sales in the UAE rose over 20% in the first eight months of this year, and that solid growth should continue thanks to a resilient economy underpinned by high oil prices, Reuters has reported. The growth rate has been flattered by the disruption to supplies last year after a devastating earthquake in Japan, said Kosaka. But even excluding that, it is clear the car market in the second largest Arab economy is improving, he added. "The UAE new car market is increasing very much in comparison with last year's car sales. This is not only for Nissan," Kosaka said. The UAE is Nissan's largest market in the region. Consultants IHS Automotive have forecast car sales in the UAE will grow more than 5% to some 282,000 this year, after an estimated 13% rise in 2011.
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