UAE Vehicles Market in the first half of the 2017 was very disappointing following the record drop reported last year. Sales have been down 25% despite the almost positive data from the non-oil economy development. Kia is the only growing player among the top.

The UAE’s economy remains in fairly good shape, with the PMI staying firmly in expansionary territory so far this year as non-oil sector firms benefit from solid domestic demand, while the number of tourist arrivals increased significantly in Q1 despite a stronger dirham. The economy has weathered the storm of low oil prices better than its GCC neighbors thanks to a relatively diversified economy and significant fiscal buffers. In addition, the relative ease of doing business in the country is a major draw for foreign investors, with the UAE rising five places to 10th in the latest World Competiveness Ranking.

Following years of real booming volume, driven both by real internal demand, for one of the fastest growing nation in the World, and by external demand, considering the trading to Africa and rest of Gulf area for vehicles “officially” sold in the UAE (and registered here), the 2016 was a real nightmare for the UAE Automotive industry, with the worse year on year performance out of last 30 years.

For the 2017 expectations were mixed. From one side the expected increase in oil price and the fast growing non-oil sector should help the internal demand to grow. But the “trading” business is still subject to the difficulty period for many african markets. In addition oil price recovery is uncertain and moderate.
However, the year started very disappointing with Q1 vehicles sales down a huge 25.1%. The trend improved just a little in the second quarter with sales down 21% and the first half sales have been down 24.9% at 124.656 units.

At brand-wise, the market leader Toyota is losing in line with the market (-25.7%).
In second place Nissan (-18.8%) followed by Mitsubishi (-44.1%), BMW (-7.51%), Kia (+10.99%) and Hyundai (-39.5%).

Updates on the Top selling models ranking are available here.

Original Source : Focus2move.com
 

Ily Es

 Translator