Al-Futtaim Automotive reveals strong H1 results

Results reflect continuing rebound for automotive industry
Al-Futtaim Automotive reveals strong H1 results
Vincent Wijnen

Al-Futtaim Automotive company has revealed a strong first half of the year, reflecting the ongoing rebound of the automotive sector.

According to the latest Al-Futtaim Automotive data, the overall automotive market is up 9.3 percent compared to the first six months of 2021. Al-Futtaim Automotive closed out the first half of the year with a total market share of 35.4 percent, selling 40,542 vehicles, up 2,190 units versus the first half of 2021. 

Vincent Wijnen, Senior Managing Director Al-Futtaim Automotive said: “We are thrilled by the strong demand and positive momentum so far in 2022, with our sales only limited by the global supply chain challenges. Al-Futtaim Automotive increased market share in some key segments with one of our leading marques, Toyota, continuing to dominate the SUV and car market. The increase in sales is a direct result of our continued commitment to deliver on our brand promise of enriching the lives of our customers every day.”

SUVs continue to dominate the UAE market, making up 50.5 percent of sales for the first half of the year. Toyota led the SUV segment, accounting for 25.2 percent of sales from January to June. The automotive brand saw an 11.4 percent increase in total volume year on year and a 0.5 percent increase in market share. While the luxury vehicle market is down 10.3 percent overall, Lexus has managed to increase its luxury market share by 1.2 percent, with the Lexus IS, Lexus LX, and all-new Lexus NX remaining popular models. 

According to a recent report by management consulting company Roland Berger, after evaluating 27 focus countries on 28 specific criteria, the UAE is now listed as one of the countries where the electrification trend is picking up. This demonstrates that the UAE’s vision, supported by private companies such as Al-Futtaim Automotive is starting to bear results.  China, followed by the US, and Germany make up the top three.

Demand for electric vehicles is stronger than it has ever been. This can be attributed not just to the high fuel prices, which are helping to accelerate the growth, but also due to the growing customer awareness and acceptance of the technology, the environmental advantages, the fun factor of the faster acceleration, and lower center of gravity and the smooth and silent driving characteristics of the electric powertrain. The UAE’s Net Zero strategy brings an opportunity for automotive manufacturers and dealerships to embrace it and be a driver of change to support this vision.