It has been confirmed by all of the leading economic indicators that sales of luxury cars in the UAE continue to boom and prosper with the country becoming amongst the top prominent global markets, especially for Italian luxury car manufacturer, Ferrari that has once again recorded excellent results in the first half of this year.
The UAE is ranked as the eighth country worldwide for luxury cars such as Ferrari whose dealer, Al Tayer Motors, with 25 years of representing the brand in the UAE, has become the first importer of this brand the world as per capita based on number of population.
Last year, Al Tayer Motors one of the UAE’s automobile dealerships was named as Ferrari’s Middle East and Africa region importer of the 2012.
The year 2012 had been a hugely successful year for luxury car manufacturers in the Middle East in general and in the UAE in particular.
The Ferrari Board of Directors met on Aug.4 in Maranello, Italy under the chairmanship of Luca di Montezemolo to examine the financial results for the first six months of 2013.
During the meeting, the board highlighted the first results of Ferrari’s strategic decision to reduce output, while the effect of said move on volumes will become clearer in the second half of the year, it is already being felt in smaller growth in volumes than in Q1 which are being matched by a significant increase in both trading and net profits.
Recently, we made a strategic decision that the effects of which will be felt more clearly over the next six months. However, that move is already beginning to make its mark,” said Luca di Montezemolo.
On June 30, Ferrari recorded excellent results confirmed by all of the main economic indicators.
