Life & Style | Motoring

Ferrari sees car sales growing at 60% in the UAE

UAE sales of Italian sports car manufacturer Ferrari have grown more than 60 per cent in 2007, according to Hossam Hosni, general manager, luxury cars at Al Tayer Motors.

  • By Robert Ditcham, Staff Reporter
  • Published: 23:27 November 14, 2007
  • Gulf News

  • A visitor to the show takes a look under the bonnet of a Ferrari.
  • Image Credit: Devadasan/Gulf News

Dubai: UAE sales of Italian sports car manufacturer Ferrari have grown more than 60 per cent in 2007, according to Hossam Hosni, general manager, luxury cars at Al Tayer Motors.

The company is aiming for similar sales growth next year, driven by its new Abu Dhabi showroom, which Ferrari president Luca Cordero di Montezemolo described as a global benchmark for the company, and demand for new models including the F430 Scuderia.

"With the arrival of the F430 Scuderia, we are approaching customers who are extremely sporty and want to drive something on a different level than sports car on the road," said Hosni. "They want to drive a road version of a Formula One car."

Delivery of the UAE's first F430 Scuderias will start in the first quarter of 2008. Ferrari has been at the centre of attention in UAE in recent years - a trend which encouraged Al Tayer Motors to invest in a new Abu Dhabi showroom offering sales, after sales and a spare parts service.

The Ferrari World theme park, which is set for completion in 2009, will headline Abu Dhabi's $40 billion transformation of Yas Island into a luxury tourist destination.

Mubadala takes stake

Mubadala Development, a public joint stock company established and wholly owned by the government of Abu Dhabi, purchased a five per cent stake in Ferrari from Mediobanca of Italy, in May 2005.

"Since Mubadala became shareholders in Ferrari, the attention to Ferrari in this area has increased significantly," said Hosni.

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