Business | Markets
Gargash Enterprises sales climb 32% in 2004-05
Gargash Enterprises, sole agent of Mercedes-Benz in Dubai and the Northern Emirates, recorded 32 per cent growth in sales with 3,500 units sold in 2004-05.
- By Ashfaq Ahmed, Staff Reporter
- Published: 00:00 June 30, 2005
Gargash Enterprises, sole agent of Mercedes-Benz in Dubai and the Northern Emirates, recorded 32 per cent growth in sales with 3,500 units sold in 2004-05.
"We have sold 3,500 new cars and more than 1,000 used cars during our financial year ended March 2005," said Richard Barber, general manager of Gargash Enterprises. The company has been awarded for being the highest sales grosser in the region.
The company has set a further 10 per cent growth target this year with the launch of its new M-class and S-Class series, scheduled for later this year. "We have already recorded 15 per cent growth during the first quarter of our current financial year (April-June) as compared to same period last year. We aim to sell more than 4,000 units this year," he said.
He said the Mercedes M class and C-class were the hottest models last year. "It has proved wrong that customers in Dubai go after only latest models. We have the best sales for these two models which are seven and six years old respectively," he said.
Barber said that about 62 per cent of their cars were bought through financing. "Our monthly instalments scheme has been very successful and it really gave a boost to our sales," he said.
Earlier, Barber announced at a press conference that Gargash has signed an agreement with Royal Dutch/Shell Group. Under the agreement, all Mercedes cars sold by Gargash Enterprises will use Shell Helix Ultra AB, a special lubricant blended in collaboration with Mercedes-Benz International.
With this partnership, Gargash Enterprises becomes the first Mercedes dealer in the region to use Shell lubricants. "We use 221,000 litres of oil per annum," said Barber.
"In line with our policy of continuous improvement and maximum customer satisfaction, we decided to provide customers with Shell's high quality oil, imported from Germany, which retains the high residual value of Mercedes-Benz," he added.
Quentin Freddie D'Silva, general manager of Shell Middle East and Central Asia, said: "Our partnership with Gargash means we can now extend our association with Mercedes cars in the UAE, as all these cars are filled with special Shell grade oil when they leave the Mercedes plant in Stuttgart, Germany."
Shell lubricants, he said, have been shown to increase gear life in Mercedes-Benz axle and transmission tests.
More from Markets
More from Business
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
