UAE leading commercial vehicles recovery in GCC
Freight movement and consumer activity are boosting sales in the UAE
Freight movement and consumer activity are helping sales of commercial vehicles in the GCC, says Tom Nauwelaerts, General Manager of Al Futtaim Logistics.
According to new statistics released by Auto Strategies International sales in each of the GCC countries for the first half of 2010 showed significant increases on the same period in 2009, with total sales in the region leaping by 38% to 253,790.
The figures that include trucks, buses, vans, pick-ups and utility vehicles reveal that the UAE led the way with a 54% sales leap for first half of 2010 to 53,683 units. Meanwhile in Kuwait, 12,333 units were sold between January and June 2010, an increase of 49%, with Oman experiencing a 41% jump in sales to 28,079 units.
While regional commercial vehicles sales still lag behind pre-recession levels, which reached 722,619 in 2008, the new figures reflect a fresh mood of optimism in the industry, as highlighted by a strong presence of major industry players in the exhibition line-up for Dubai.
“The commercial vehicles market will continue to recover in the GCC and we should see growth over the next few years as a result of developments in the region,” Tom Nauwelaerts, GM of Al Futtaim Logistics. “However this growth is not anticipated to be at the levels previously enjoyed for a while yet.”
Nauwelaerts, who features as a speaker at the Commercial Vehicles event held later this month, added: “Now we are witnessing an upward trend in freight movement and consumer activity. This is a positive sign for market recovery and hopefully a sustainable future direction”.
Fellow conference speaker, Alex Borg, Regional Coordinator for the Chartered Institute of Logistics and Transport International, said: “The market is recovering slowly but surely. We may need three or four years to reach the heights of 2008 pre-recession. The local and international market is still fragile, but should recover fully in time”.