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FINANCIAL NEWS
Japanese car sales to remain steady in UAE
19 Jun 2011
(MENAFN) Al-Fittaim Honda’s managing director, Mark Kass, said that due to the earthquake that hit Japan, 2011’s sales would be expected to remain steady in spite of a notable drop in supply, reported The National.
Kass added that following the earthquake, Al-Futtaim’s imports of Japanese cars slipped by 45 percent, nevertheless, the situation became better now. Furthermore, the firm would aim to complement the high volume business of its sister company, Al-Futtaim Motors and offer its clients a more luxurious and more expensive car.
He also said that new rules imposed by the Central Bank asking a 20 percent cash deposit for car acquisitions and limiting the amount of debt that borrowers could take on affected Al-Futtaim Honda’s sales.
It is worth noting that Honda launched an advantages financing plan in which the amount a client pays each month depends on his expected usage of the car and, consequently, the value of the car after 24 or 36 months.
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