Arab Today, arab today uae auto industry bounces back
Last Updated : GMT 12:27:49
Arab Today, arab today
Arab Today, arab today

UAE auto industry bounces back

Arab Today, arab today

Arab Today, arab today UAE auto industry bounces back

Dubai - Arabstoday

The auto industry in the UAE indicates a positive sign of bouncing back into business, and this is evident following an announcement by Al-Futtaim Motors Company (AMC) that it is back to normal production of its Toyota brands including robust sales.At the same time, Al-Futtaim Motors, the exclusive distributors of Toyota and Lexus in the UAE also unveiled its plans for an ambitious Ramadan promotion running from August 1 to 30.Al-Futtaim Motors, announced the launch of two exciting propositions as part of the company’s continual commitment to loyal Toyota customers to provide a rewarding and long-term joy.Al-Futtaim Motors announced a new automotive millionaire promotion campaign for the Ramadhan season. This is the first-of-its-kind promotion in the UAE automotive sector being offered exclusively by Al-Futtaim Motors.Customers who purchase a new Toyota vehicle only in the month of August will stand an extremely good chance to win Dhs1 million cash prize.To be eligible for this unique promotion, individuals making a purchase of any new Toyota SUV or passenger car are automatically entered into a prize draw. The lucky winner will be announced immediately after Eid.In addition, and in keeping with the spirit of Ramadan, Al-Futtaim Motors Toyota will offer ‘Apple’ product to every Toyota vehicle buyer during this promotion.Production at Toyota’s Japanese plants is now almost 100 per cent back to normal, said the Managing Director, Al-Futtaim Motors Simon Frith.Production at the Japanese plants were severely affected by the March 11 earthquake and tsunami  that rocked part of the Nation leaving almost 23,000 people dead or missing across Japan’s northeast coast.Although Toyota’s main factory in Tokyo was not directly affected, the supply of spare parts was. This saw production decline by over 50 per cent in the months following the disaster.Al Futtaim however admitted that it had also been affected by the disaster, having lost some UAE market share, that dropped from 40 per cent at the beginning of the year to 38.5 per cent for the first six months. In the small car segment, the worst hit model in the Toyota brand was the popular Yaris, which had been hit by low supply.Speaking to The Gulf Today, at the sideline of the announcement on Sunday, Frith also spelt out a new vehicle finance solution for Toyota vehicles based on a purchase model.  It is designed to offer a range of individually tailored finance packages, making owning a new Toyota car easier than ever before.He said Toyota offers real tangible benefits to customers such as lower monthly commitments starting with Dhs. 999, shorter loan agreement, guaranteed future trade-in value etc.According to Frith, the new finance solution from Al-Futtaim offers customers with a 24 low monthly payments, according to the Central Bank guidelines, which is actually an alternative to traditional forms of funding.At the same time Frith disclosed that the company is putting new investments into the market, but did not divulge on the exact scale of investment.The company also recently opened a pre-delivery inspection centre in Jebel Ali, which has the capacity to put about 100,000 units in. He said that AFM, which is part of the Al-Futtaim Group also plans to extend its investments in Abu Dhabi and expects to have three showrooms in 2012/13.Speaking at the same event, Andrew Squires, the sales manager at Al Futtaim Motors, said the Japan recovery has been pretty fast than expected, adding that it was almost back to 100 per cent in July and is expected to hit 100 per cent mark in November. Nabil Naga, General Manager Fleet of Al-Futtaim Motors were also present for the media briefing.Frith expressed satisfaction with the performance of its sales target in the first half of this year, adding that with the production of all its models getting back to normal, the company anticipates to achieve its 40 per cent market share and expects to sell 7,000 units of its vehicle during the Ramadhan period.Frith said the company was shooting for 100,000 units in the UAE. He said it will continue to invest in its facilities, into its customers and the people to build a long-term relationship and a service level with its clients. From / Gulf Today

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