Ford accelerates GCC sales to 52pct in Q1
Ford accelerates GCC sales to 52pct in Q1
US automaker Ford confidently cruised in to the second quarter of 2011 with Q1 product sales figures within the Gulf having soared by a hefty 52 per cent, yr on yr. The surge was noticed in spite of the political unrest that continues to beset the Center East and North Africa (Mena) region.
Hussein Murad, director of revenue at Ford Center East, mentioned that their 1st quarter outcomes have appeared to be nearly unaffected by the regional stress as important development markets including Saudi Arabia, the UAE and Kuwait remained upbeat.
"Most of our growth came from these markets, which have shown to be economically and politically steady. While more compact markets like Bahrain, Syria and Lebanon may have already been impacted, their figures didn't hit our overall product sales for that region," Murad mentioned on Sunday in the course of an announcement of Ford's first-quarter outcomes.
Within the UAE, Ford recorded a sales increase of 32 per cent, outmaneuvering the nearby auto industry's growth fee of twelve per cent during the first three months of this 12 months.
Murad attributed this improve for the company's powerful lineup of items which include Explorer, Edge and Taurus, which were launched in the nation last yr and have had considerable subsequent considering that then.
Ford also roared in Saudi Arabia and Kuwait as it registered whopping gross sales increments of seventy five per cent and fifty per cent, respectively. The company's Q1 outcomes, nevertheless, did not give the distinct volumes of autos available in the region.
Asked about their development targets for 2011, Murad mentioned that Ford aims to get a minimum of ten per cent market reveal from the GCC's automobile business. In the second, the carmaker accounts for nine per cent of the UAE car market, 13 per cent of Saudi and much more than eleven per cent of Kuwait.
"We've began the 12 months powerful so naturally, we've very great hopes for the entire 2011. We're at present the 2nd greatest auto producer [in the region] right after Toyota, as per Q1 numbers. We might like to finish the 12 months strongly," he mentioned.
The executive is optimistic about achieving their objectives following the start of new products for example the brand new Ford Explorer and Focus within the 2nd 50 % of this yr. The company also aims to enter the modest auto market inside the GCC with the start of their compact car Figo, which has had powerful existence in the Indian marketplace, growing by a massive 97 per cent to 29,804 units inside the 1st quarter of 2011 versus 15,154 units final 12 months.
No immediate hit from Japanese tsunami
Ford hasn't been straight affected through the Japanese tsunami that broken some facilities and halted outputs of rivals Toyota, Honda and Nissan because it doesn't have creation vegetation inside the earthquake-hit Asian nation.
"About 90 per cent of our goods come from North America plus the remaining ten per cent are from West Europe," says Murad.
He extra the real-term impact with the tsunami on the harmony sheets of Japanese automobile manufacturers will most likely be felt in the second and third quarter.
Asked if he sees the Japan crisis supplying Ford an edge over its Japanese rivals, Murad stated "we don't understand what the marketplace competitors is going to be inside the following few months. Basically we'll just try to outdo ourselves."
Outlook rosy amid unrest, oil price hike
An improve in petrodollars owing towards the upswing of crude oil costs will support boost liquidity in the Gulf market, which continues to be witnessing a gradual boost in available credit facilities for auto funding, mentioned Murad.
"Car financing is improving now when compared with the past months and there is more self-assurance within the marketplace. Things are finding greater and we're expecting it to go again to typical by 2012," he said.
In spite of the global monetary slump, Ford Center East managed to post significant will increase of 25 per cent in 2009 compared to 2008, and 22 per cent in 2010 more than the 2009 product sales figures. Provided that quarterly trends remain favourable, Murad expects Ford Center East to register development of between forty and fifty per cent by end-2011.
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