Dubai: The UAE’s fleet sector is expected to grow significantly in the near future as SMEs (small and medium enterprises) and corporates prepare to replace their ageing fleets by leveraging the current economic stability and projected growth and by taking advantage of recently imposed more stringent banking car loan rules to individuals, according to Mark Kass, Regional Managing Director, Al-Futtaim Honda.
He was speaking in front of 100 delegates representing major fleet owners in the UAE during the annual Al-Futtaim Honda Fleet Event at the Grand Hyatt Hotel in Dubai.
“Economic recovery is now more tangible across the critical growth sectors of transport, trade and tourism and as oil prices continue to command a premium confidence has returned back to the UAE market,” said Kass.
“Following a period of underinvestment dictated by a crisis-hit economy, fleet owners and operators are now investing in procuring new cars to gradually replace their vehicle assets acquired during 2008-2009. “Based on our own projected future growth estimates the sector is set to benefit from increased demand for new cars. Al-Futtaim Honda is targeting fleet sales growth of about 50 per cent in 2013 as we are bringing into the market new models such as the 2013 Honda Civic that are popular among fleet owners,” said Kass.
Kass added: “We are extremely pleased with the positive feedback from the industry. Al-Futtaim Honda is committed to grow its fleet sales business substantially with the expansion of its fleet sales team and a refreshed new product line-up.”