New Car Sales in UAE Forecasted to Reach 267,000 by 2020

Over 150 automakers are anticipated to participate in the 2017 Dubai Motor Show as new car sales in the UAE are forecasted to hit 267,000 by 2020. Organizers also pin high hopes that debuts of new models will surpass the number of vehicles seen at the 2015 edition.

Alpen Capital’s recent report indicates that the number of passenger cars in the GCC is anticipated to grow at five percent CAGR from an approximately 10.2 million in 2015 to 13.2 million in 2020. 

Among the much-anticipated launches at the grand event is the production version of the Devel Sixteen by UAE-based supercar manufacturer Devel. The company last unveiled its 5,000-brake horsepower prototype masterpiece at the 12th Dubai International Motor Show.

According to Majid Al Attar, chairman, Devel, as a homegrown manufacturer in the UAE, Devel is dedicated to the Dubai International Motor Show as it offers the perfect opportunity for them to showcase their cars to serious car aficionados and petrolheads from across the Middle East and beyond.

He adds that this region has a true love affair for all things motoring and they are proud to represent the UAE automotive industry. “Visitors to the Devel stand will be in for a real treat as we have some exciting reveals during the show.”

In accordance with Trixie LohMirmand, senior vice president, Exhibitions & Events Management, Dubai World Trade Centre, the 14th Dubai International Motor Show serves as the perfect platform for leading manufacturers and automotive suppliers to connect with thousands of potential purchasers from across the UAE, wider GCC and beyond.

She notes that it is evidence to the strength and reputation of the show that the leading automotive players in the world are coming back again. “They can see the potential in this region as a timely counter to the generally cautious weathervane in other markets.”

Given that the UAE is home to the highest number of luxury cars per capita in the region, a recent study of the global luxury car market by ReportBuyer forecasted that sales of luxury cars in the region would increase at a yearly rate of between 4-5 percent over the next few years.

Dubai International Motor Show will be held at Dubai World Trade center from November 14 to 18.

Source: https://goo.gl/NUyJNZ