Sharjah : Arabian Automobiles, distributor of Nissan and Infiniti in Dubai and the Northern Emirates, is confident that the slowdown in the regional car market has finally bottomed out and things are getting better every quarter.
"We have recorded 20 per cent growth so far this year with our range of Nissan and Infiniti," Michel Ayat, CEO of Arabian Automobiles, told Gulf News at the Sharjah International Automobile Show, which opened yesterday.
"This is by far outperforming the car market in the UAE, which grew at six per cent between January and August," he added. Nissan's best selling car was the SUV model Patrol.
Ayat said that he is confident that the slowdown has finally bottomed out as sales throughout the market are on the rise again.
"Last year was a year of confusion", he said. "We were not aware when the market would hit bottom. The overall car market was down by 40 per cent."
In the course of 2010, the confidence gradually came back, Ayat said.
"Now the clarity is there, we know where the markets are moving, which allows us to run a solid business strategy, unlike 2009."
Loan benefits
The UAE car market this year may rise "in the single digit percentage range", he reckons, "maybe by eight per cent."
Eighty per cent of Arabian Automobiles' customers are buying their cars on loans, he says.
"We have realised that it has become much easier for car buyers to get loans from the banks, it is much better now than it was last year. This has also added to the new confidence."
The all-new 2011 Infiniti QX SUV, launched in September, is also displayed on the Infiniti stand.
