ME auto industry to zoom ahead

The automotive sector in the Middle East remains upbeat despite turbulence in many countries in the region.

By Staff Report

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Published: Wed 18 Sep 2013, 10:54 AM

Last updated: Tue 7 Apr 2015, 8:24 PM

Almost every car maker has reported sales growth in double digits, ranging between 20 and 40 per cent in the region right from Bentley, BMW, Mercedes-Benz, Jaguar, Range Rover, Audi, and Lincoln to Volvo, Toyota, Honda, Mazda, Nissan, Renault, Ford, GM, Hyundai and others.

“Majority of these brands expects over 25 per cent growth in 2013,” said Ibrahim Mohamed Al Janahi, deputy chief executive officer of the Jebel Ali Free Zone, or Jafza, and chief commercial officer of Economic Zones World, or EZW, the parent company of Jafza. He was speaking at the recently-held EZW Customer Forum for Jafza companies in the automotive industry at the EZW Business Park.

“The automotive aftermarket in the GCC countries in 2012 was equally vibrant and estimated to have grown between 15 and 20 per cent. By 2016 the aftermarket sector is predicted to hit $14.4 billion,” Al Janahi said, referring to a recent report by Frost and Sullivan.

According to that report, the total consumption within the automotive aftermarket in GCC countries in 2012 posted more than 15 per cent growth to reach $7.5 billion (Dh27.5 billion). With consumption worth $2 billion, the UAE was the second-largest automotive market in the GCC after Saudi Arabia. The report predicted a growth between 15 and 20 per cent across parts and accessories, tyres and tubes, batteries and lubricants over the next five years.

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