Automobile Industry in UAE is becoming more and more standardized as the level of competition increases. Most of the auto giant companies are planning to shift their headquarters from developed nations to the emerging market like that of UAE. Many of the developed nations are taking advantage of this opportunity and as a result, the supply chain of the auto industry has completely changed over years. The major source of imports become Japan, Germany, USA and China and the top destinations for motor vehicle component re-exports become Iran, Russia, Iraq,Lybia and Tanzania.
Automotive as well as auto-parts sector plays a crucial role in UAE’s economy and has a more prominent impact on the same. Under the light of studies lead by the world statistics department, it is evident that, in the near future the auto industry will thrive in UAE. UAE automotive sector, comprising of auto component sub sector is one of the key segments in UAE Economy that have extensive forward and backward linkages with other economies in UAE. Trade barrier reduction, lowest shipping cost etc. have lead to crucial changes in the global vehicle industry just like other industries.
UAE remains the fastest growing automotive market in the Middle East with enormous car sales becoming visual in the two largest cities, Dubai and Abu Dhabi. UAE is well recognized as a major destination for premium and budget cars and is likely to remain in the topmost position in car sales. Many of the car dealers are trying to attract consumers looking for affordable finance plans which will let them spread their payments out over longer periods. The numbers of cars on UAE roads are increasing day by day. Keeping this on account, Government has put forward a cost efficient way in order to maintain independent transport across UAE.
Emirates have positioned itself as a regional exporter of used cars in the Middle East Region, with car auction sales booming across UAE. New car buyers in the GCC are changing their models regularly on the arrival of new ones, so, the region has the peak used car sector. In order to unload vehicles, large numbers of rental firms and leasing companies have hosted countless showrooms offering a single place for customers to purchase vehicles. Sales growth shows that there is a growing demand for stylish and extravagant used premium vehicles, despite of the budget model influx. Used car sale in Dubai is directly correlated with the per capita income. Used cars in Abu Dhabi also show much increase in sales with more reliable and stylish vehicles.
Car Industry in UAE helps save considerable imports and is an idle investment scenario. Many of the automotive companies will start investing for a better future. UAE will remain as the fastest growing automobile market in the world and will get benefitted from the influx of investments from other volatile Middle East nations. Apart from automotive industry, commercial, retail and real estate sectors will also show an up rise in UAE economy during the coming years. If you want to buy/sell a car, rent a car at an affordable cost, car rental providers like 8Keyz are there to help you out in finding the best suited deals. For more details visit, http://www.8keyz.com.
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