/UAE Auto Market Outlook Is Not Good

UAE Auto Market Outlook Is Not Good

img246 bg 2 at UAE Auto Market Outlook Is Not Good

As the world financial crisis grows every part of the globe is getting affected, even the wealthiest countries with most stable economies are not safe. UAE’s car market has always been a steady growing market with sales numbers always at peak, but now there are signs that it’s getting slumped. Demand for new cars has fallen down dramatically not only because of financial downturn, but the whole UAE  economy is slowing down as a direct result of oil price drop. And the real estate market, which is the main player in the region’s economy also is sruggling these days, and that has a big effect on every single product in the market. The credit squeeze imposed by banks and job cuts by big companies are other factors to the equation. and add up to that congestion charges and new harder rules for issuing driving licences in the country. Although luxury car market doesn’t seem to be affected much by this situation, but all in all it does not seem to be a reliable market to invest in at least in he upcoming year.

(Founder / Chief Editor / Journalist) – Arman is the original founder of Motorward.com, which he kept until August 2009. Currently Arman is our chief editor and is held responsible for a large part of the news we publish.