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FINANCIAL NEWS
Subaru’s ME sales down by 20%
20 Dec 2011
(MENAFN) Fuji Heavy Industries’, the manufacturer of Subaru automobiles, said that in the past 6 months, sales of Subaru in the Middle East dropped by 20 percent, as Japan’s earthquake and tsunami disrupted production of car parts, reported Gulf News.
The company added that after October, output started to go up, reaching at an average production level at the current time, whereas sales for the Middle East and Asia in 2012 would be expected to get better.
It also said that the current yen to dollar value was not in the favor of any Japanese producer; since stronger yen harmed sales of Japanese-made products sold outside Japan.
It is worth noting that the GCC and Middle East account for less than 10 percent of Subaru’s sales, with the UAE ranking third among the company’s top market in the region after Saudi and Oman.
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