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Japanese & Korean Companies Capture 57.5% of the GCC Passenger Car Market - Global automobile manufacturers target regional consumers at Dubai Motor Show.
Japanese & Korean Companies Capture 57.5% of the GCC Passenger Car Market

 

PRZOOM - /newswire/ - Dubai, UAE, United Arab Emirates, 2005/12/10 - Global automobile manufacturers target regional consumers at Dubai Motor Show..

   
 
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Global automobile manufacturers including those from Japan and South Korea will be targeting consumers from the region at the 8th Middle East International Motor Show 2005 to strengthen their market share in the Gulf Cooperation Council (GCC) countries, according to organisers Dubai World Trade Centre (DWTC). Currently Japan and South Korea enjoy 40.4% and 17.1% of the GCC passenger car market respectively.

The premier regional event for automobiles and ancillary sectors, the Dubai Motor Show will take place at the Dubai International Convention and Exhibition Centre from December 12 to 16, 2005. The show this year will cover an expanse of 45,000 M2 utilising a total of 10 exhibition halls, the concourse as well as the external space at the DWTC complex.

Automotive giants, including Asian market leaders will be looking at the GCC market this year with renewed interest following unprecedented oil revenues and booming regional economies and a sizeable younger population that is the driving force behind the automobile market.

According to Auto Strategies International, Japanese passenger cars held a mighty 52.3% market share in the UAE to be in top position during the year 2004. Australia and Germany held 14% and 11.1% respectively in this segment. In the trucks & buses segment too, Japan was way ahead of the rest with 84.9% of the market, with the US in the second position with 11% during the year.

The major players in the motor vehicles manufacturing industry in UAE include Nissan, Toyota, Mitsubishi, Mercedes, BMW, Volkswagen, Jaguar, Land Rover, Ford and General Motors.

During 2004, GCC markets received a total of 151,151 passenger car units from Japanese manufacturers whereas South Korean companies supplied 84,064 units. However Australia-based companies distributed 92,530 units, Germany 19,847 units and France 11,545 units during the year. Manufacturers from the US supplied 15,106 units during this period, according to Auto Strategies data.

With the Asian companies increasing their distribution tremendously over the years, the Dubai show offers an opportunity to showcase their latest models for further market penetration.

In the trucks and buses segment too Japan is in the lead with 202,861 units supplied during 2004 to the region, cornering a 64.2% market share. However, with 36,697 units the US companies cornered 11.8% market share. South Korean companies supplied 24,970 units, Thailand 15,314 units, Germany 11,318 units, and Mexico with nearly 10,000 units.

The region is key to most of the worldwide manufacturers and Dubai is a logical choice for their market expansion plans. “The Motor Show gains added significance in the light of these factors,” remarked Mr. Al Marri.

The previous show held in December 2003 saw as many as 75,167 visitors checking out the vehicles on display during the five-day event. This was an unprecedented 82% growth on the previous comparative figure. The 7th edition also saw the exhibition floor space reach a significant 24,000 square meters.

* Auto Strategies International Inc. provides detailed motor vehicle market data on 212 countries for business planners at motor vehicle manufacturers, and motor vehicle parts manufacturers.

 
 
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Japanese & Korean Companies Capture 57.5% of the GCC Passenger Car Market

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