Expectations of growth rates of up to 10% during 2022
Auto market sales grow 26.5% during 2021
The auto sector in the country has recovered about 90% of its pre-Coronavirus levels in 2019. Archive
Michel Ayat: "Car prices are currently witnessing stability rates, and a return to pre-pandemic levels."
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The Chairman of the Board of Directors of the Automotive Agents Working Group in Dubai and CEO of “Abdul Wahed Al Rostamani Automotive Group”, the agent of “Nissan”, “Infiniti” and “Renault” cars in Dubai and the Northern Emirates, Michel Ayat, stated that sales of car markets in the country during the year 2021 recorded A growth of 26.5% compared to 2020.
car sales
Ayat revealed to "Emirates Today" that the auto sector in the country managed to recover up to 90% of its pre-Coronavirus levels in 2019.
He explained that the total number of new cars sold in the local markets during the year 2021 is estimated at 215,000 cars, while new growth rates are expected to reach 10% during the current year.
Ayat pointed out that the return of significant and strong demand growth to the sector during the past year, was supported by the promotion of recovery and improvement in many economic sectors, with incentives provided by government agencies to business owners, and many positive economic decisions that helped the rapid recovery of various economic sectors from the changes imposed by the pandemic on the market.
He pointed out that the remarkable growth in new car sales came with the return of dealers' confidence and the demand for purchase, after car showrooms witnessed a decline in turnout by 50% during the year 2020, and the growth was also driven by demand from various commercial entities to operate fleets of cars. Including car rental companies.
Pandemic effects
Ayat pointed out that the pandemic impeded growth in many sectors, in addition to changing the measure of success, to the ability to adapt, pointing to the closure of showrooms, and the state of hesitation that prevailed among dealers before deciding to buy a new car, which had a significant impact on car sales.
He continued, "The support of government agencies in the UAE and their initiatives during the years 2020 and 2021 played a key role in helping everyone deal with the pandemic, by taking many measures that included government initiatives to advance the economy, such as new visas, and other business-supportive policies. In addition to the launch of (Expo 2020 Dubai), and allowing full foreign ownership of businesses, which established more confidence and recovery in the markets.
Ayat confirmed that car prices are currently witnessing stability rates, and a return to pre-pandemic levels, after witnessing many offers of expanded discounts during 2020 and 2021.
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