Dubai: Arabian Automobiles, the exclusive dealer for Nissan, Infiniti and Renault in Dubai and the northern emirates, said on Monday it was interested in new overseas markets for expansion after signing a distributorship deal for Iraq last month.
Arabian Automobiles chief executive officer Michel Ayat said the company is discussing potential partnerships with top brands to grow its presence outside the UAE.
"We are expanding our business with Nissan in Iraq. We have been invited [to have such partnerships] by other manufacturers and we are studying their proposals," Ayat told Gulf News.
The expansion is part of the company's aim to double its revenues in three years.
Ayat said growth will slow down this year because of the current sluggish market conditions, but Arabian Automobiles will still achieve its targets in 2012.
Within the UAE, the company is expanding by adding new streams of business to its portfolio.
Ayat said Arabian Automobiles hopes to soon finalise new dealerships for tyres, lubricants, batteries and automobile-related products.
"Manufacturers see as strategic partners due to our knowledge of the market. Several prime brands are talking with us and we have finalised many new products to add to our portfolio," he added.
The Iraq agreement, the first such foreign arrangement for Arabian Automobiles, involves sale and service of Nissan vehicles, allowing it to operate facilities such as showrooms, warehouses and service centres.
The company will launch its operations from Baghdad and then hopes to expand to other key areas of the country.
Gilles Normand, Nissan Motor Company corporate vice-president for Africa, Middle East and India operations, formally signed the agreement with Abdul Wahid Al Rostamani, chairman of AWRostamani Group, the holding company of Arabian Automobiles, in Dubai in April.
"Arabian Automobiles has built a loyal customer base and continues to make significant investments in infrastructure in the UAE. We are dedicated to providing the highest quality to our customers and are grateful to Nissan for this opportunity to expand our operations into Iraq," Al Rostamani said in a statement.
Abu Dhabi Japanese automaker Nissan yesterday unveiled the latest version of its crossover vehicle Murano in Abu Dhabi priced between Dh149,000 to Dh164,000 ex-showroom, despite its sales across various car segments in the emirate shrinking 20 per cent since October largely due to the impact of the global economic crisis.
The gasoline-powered Murano 2009 has a restyled exterior design and is powered by a more powerful and cleaner 3.5 Litre V6 Engine. It will be available in three variants.
David Radcliffe, general manager of Nissan's sole dealer in Abu Dhabi, Al Masood Automobiles, said at a news conference that he expects the company's market share in the segment to increase due to the competitiveness of the all new Murano.
As an incentive to prospective buyers of Murano, the Nissan dealer is offering a low 4.5 per cent interest rate, zero downpayment, free insurance and up to 20,000 kilometres free service to sustain sales. The dealer claimed Nissan has a 11 per cent share in the UAE in the crossover segment. In this segment, as many as 38,000 cars were sold last year in the UAE.
Tony Barlow, director of sales and marketing at Nissan Gulf FZCO said: "The crossover segment has been witnessing increasing sales. In 2009, as a percentage of the overall market, it should be a significant contributor."
