Farago Motors to launch new showrooms in the UAE

Farago Motors, a known brand in Dubai, is bullish about the growth of the automotive industry and will soon expand its presence in the UAE with the launch of new showrooms. In 2019, it expanded in Miami, the US, with a foreign trade zone in Miami Lakes, and in 2020, it opened its showroom on the main street of the capital of Ghana, Accra. Looking at the constant rise of the brand, which has so far exported around 3,000 brand new vehicles per year and sold to over 80 countries worldwide, it expects to continue climbing the success ladder in the coming years as well.

Farago Motors is looking forward to spreading its wings with more showrooms in the coming years across the UAE. After noticing how the auto industry can reach greater success levels in the coming years, the CEO of Farago Motors, Nicholas Farago, says, "The future is definitely bright for the industry."

He says that positive disruptions in the auto industry may result in great growth in the coming years. Many companies, including his, have been reimagining operations to perform best even amidst volatile market trends.

Studies suggest that in the auto industry, vehicle sales will go up 3.4 per cent to 15.4 million units this year, but experts also say that 11.3 million vehicles will not be produced worldwide due to chip shortage. Cars and automobile sector is on its way to reaching a constant growth pedestal. The current global health crisis has brought massive changes in the world of business, but it has also opened doors of new opportunities for companies and brands to take their growth forward. Many experts and professionals in the industry did the same and thus were able to survive and even thrive in the same.

Speaking on the current Covid times, Nicholas says that Farago Motors, too, were hit huge by these disrupting times and are still dealing with it, with triple shipping prices and a few areas under lockdown. However, he quotes, "I believe the worst has passed, and the brighter future is awaiting us. Also, companies that survived have come out stronger." His company is one on the list of companies that have managed to balance its growth. It has grown as a powerful brand. It also is more focused on selling to governments and NGOs.

Nicholas adds that they are determined to launch additional showrooms in the UAE in 2023, as he is confident of the swift rise of the industry in the near future since he also believes that the pandemic has accelerated developments.