UAE New Car Sales Figure to Reach 267,000 by 2020
Around 150 car makers will be taking a part in the 2017 Dubai International Motor Show just as the analysts have forecasted that by 2020, UAE new car sales figure will reach 267,000.
The 2017 Dubai International Motor Show, will run from November 14-18 at the Dubai World Trade Centre(DWTC). The event is expected to have unveilings and launches of new models and is likely to surpass the previous numbers.
The forecast came from a recent report by Alpen Capital which suggested that passenger cars numbers in the GCC region will grow at CAGR of 5 percent, going from around 10.2 million in 2015 to a figure of 13.2 million in 2020.
On a similar period, the number of new cars being sold will increase to hit 1.4 million by 2020, as compared to 1.2 million in 2015. The same analysis expects that UAE new car sales figure will be of 267,000 in new car sales by 2020, while in Saudi Arabia it’s expected to reach 743,000 units.
Apart from other eye-catching reveals at the event, Devel, a UAE based supercar maker will be unveiling its production version of their Devel Sixteen. The vehicle comes four years after the 5,000 horsepower prototype that debuted earlier at the 12th iteration of Dubai International Motor Show.
UAE is home to highest number of luxury vehicles per capita in the GCC region, with an annual growth of 4-5 percent for UAE new car sales being expected for the years to come.
The 2017 Dubai International Motor Show will have specialized sectors for motorbikes.