Supply disruptions are expected to continue until 2023
Al-Futtaim Motors: unprecedented growth levels in the demand for electric vehicles
Vincent Wienen: "82% of potential car buyers in the UAE are considering electric cars."
Vincent Wienen, Senior Managing Director of the Al-Futtaim Motors Group, said that the group is witnessing a large growth in varying rates in the market in the demand for electric cars, especially the small SUV category, in conjunction with the start of dealers' demand for these new technologies and their adoption.
He explained that "according to market indicators, electric cars are witnessing unprecedented levels of demand," noting that "the unprecedented growth rate is due to the high cost of fuel, which contributes to accelerating the pace of demand growth, in addition to the growing awareness of customers and their acceptance of new technologies, as well as the advantages The environmental environment of electric cars, and the different driving experience they provide thanks to the greater level of acceleration and their lower center of gravity, in addition to the quiet driving advantages provided by electric car engines.”
He stated that "one of the most prominent indicators that confirm the growth in demand for these cars is what was shown by the report of the Digital Life Index, which was issued by (Publicis Sabiant), the company specialized in digital transformation in the field of business, about 82% of potential car buyers in the UAE. They are thinking of buying electric cars.
He added, "The report's data showed that growth rates rise to 90% for dealers' thinking about buying hybrid cars, which proves the presence of a strong desire in the market to adopt this transformation in automotive technology, which continues to record mixed growth rates."
In response to a question about the variables of the electronic chip and supply crisis, Vincent explained that "the supply of new cars is still subject to many restrictions, which are not limited to the shortage of semiconductors only, but also include the disruption of supply chains caused by the repercussions of the (Covid-19) crisis." Increasing raw material costs.
He said, "Our expectations indicate that these disruptions will continue during 2022, reaching the first half of 2023. On the other hand, the demand for new cars is still strong, so we expect new and used cars to maintain their high prices during the next few years."
He added, "(Al-Futtaim Group) Motors intends to contribute to the success of the UAE in the field of sustainability, in line with the country's vision for sustainable development and the national strategy for smart mobility, by introducing new products in the environmentally friendly car sector, which contributes to supporting the country's march. Towards building a sustainable future for the transport sector.
The state’s strategy provides the opportunity for car manufacturers and their authorized dealers to lead change in the sector, in line with the UAE vision.”
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