uae auto market generates 111b in ’10
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

UAE auto market generates $11.1b in ’10

Arab Today, arab today

Arab Today, arab today UAE auto market generates $11.1b in ’10

Abu Dhabi - Arabstoday

The UAE automotive market grew by 19.7 per cent in 2010 to $11.1 billion up from $9.2 billion in 2009, a recent study by the Ministry of Foreign Trade, MoFT, shows. The UAE trade in small passenger and luxury cars grew by 24.4 per cent to $10.6 billion in 2010 compared to $8.5 billion in 2009, according to the study which was prepared by researcher Yousef Ziab of MoFT’s Analysis and Trade Information Department.UAE’s exports of vehicles with more than 9 seats went up by 32.4 per cent to $181.7 million up from $137.2 in 2010 while its imports of this category decreased by 48.9 per cent to $312.1 million down from $611.1 million in the previous year.The value of imports of small passenger and luxury cars also grew by 40.8 per cent to $7.3 billion up from $5.2 billion in 2009. 96 per cent of these imports came from ten countries led by Japan, which accounted for 46 per cent of the total value.predicted to grow by around 8 per cent annually over the next four years. It said car sales in the UAE would see a compound annual growth rate (CAGR) of 8 per cent to 2014, while total re-exports are expected to increase at a CAGR of 5 per cent in the same period. The volume of car sales in the UAE in 2010 increased by 10 per cent to $42.4 billion compared to $38.5 in 2009, thanks to the country’s population growth, the rising living standards as well as the GDP per capita, the study says citing a recent report by Business Monitor International. The automotive sector in Dubai’s Jebel Ali Free Zone, or Jafza, comprises of more than 500 companies, including those specialising in car products like tyres and tubes, workshop equipment, batteries, parts and systems, repair and maintenance and accessories. Global auto sales: Japan’s domestic sales of new cars, trucks and buses dropped 37.0 per cent from a year earlier in March, as the devastating earthquake and tsunami on March 11 disrupted domestic production for all automakers and cut off vehicle supplies to dealers, according to the Japan Automobile Dealers Association.The massive quake and tsunami hit auto assembly and parts manufacturing plants in northeastern Japan, causing parts shortages for domestic and some overseas car makers. Toyota was hit the hardest, showing a 46 per cent drop in sales — a decrease that did not include its luxury Lexus brand. Nissan sales skidded 38 per cent, while Honda saw its figures slashed by more than a quarter at 28 per cent.Also, Japan’s core private-sector machinery orders unexpectedly fell 3.3 per cent in April from March, marking the first drop in four months as the quake ravaged supply chains and led to shutting down a large number of factories.In China, car sales rose 6.5 per cent to 1.35 million units in March, recovering from the lowest growth rate in two years in February, according to the official China Association of Automobile Manufacturers (CAAM).That compared with 967,200 units sold in February, which was up 2.6 per cent from a year earlier, according to data provided by CAAM.In South Korea, Kia Motors Corp., the second-largest automaker, set a new quarterly sales record in the first three months of the year amid growing overseas demand for its vehicles. According to data released by Kia Motors, the company sold 565,355 vehicles in the first quarter of 2011, up 20.2 per cent from the same period last year. Hyundai’s global sales grew 9.7 per cent year-on-year in April to 340,647 units. Ssangyong Motor Co., South Korea’s smallest automaker revealed that its sales surged nearly 47 per cent on-year in April on strong exports. Output by South Korea’s five automakers in May rose 10.5 percent from a year earlier on strong overseas shipments.In France, car sales fell 11.2 per cent in April while German automaker Daimler’s sales dropped 25 per cent year on year in November 2010.UAE’s auto imports and exports According to The Global Enabling Trade Report 2010, the United Arab Emirates led the region at a very strong 16th position, ahead of the United Kingdom, Chile, and the United States.The country improved by two positions over the previous year by building on its strengths. Clearance of goods at the border, already efficient in previous years, has become even easier in international comparison (12th). From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae auto market generates 111b in ’10 uae auto market generates 111b in ’10

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae auto market generates 111b in ’10 uae auto market generates 111b in ’10

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday