The UAE topped the list of all the countries of the world in terms of new car sales during the first eight months of the year with a 5.3 per cent increase in new cars sales compared with the same period last year, according to Arabian Automobiles Company’s CEO Michel Ayat.
On the sidelines of a press meeting by the company recently, Ayat states: “According to a study conducted by the Middle East Automotive Council (MEAC), UAE exceeded global sales by 2.5 per cent and exceeded sales rates in the European market by three per cent and sales in the US market by five per cent,” UAE-based Emarat Al Youm Newspaper reports.
He points out that the UAE’s markets have surpassed sales growth rates in Saudi Arabia, which recorded 3.7 per cent; Qatar, which recorded 5.2 per cent; and Bahrain, which saw 0.2 per cent.
He adds that Kuwait and Oman recorded a 1.3 per cent drop and a 9.1 per cent drop respectively.
Ayat notes that in the UAE it is expected that figures for new car sales in the UAE will be around 420,522 cars, compared to around 406,000 cars in 2014.
He adds: “The increase in car sales in the domestic markets is affected by the economic recovery in various sectors in the country during the recent period and the growing population and residents rates.”