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UAE Automotive Statistics for 2022
Saphyte Team 2 min read
Updated:
Check out our list of important statistics for the automotive industry in the UAE for 2022.
Summary:
New car sales in the UAE increased by up to 30% in 2022
Toyota has the largest market share of 30.7% in the area
June is a month of recovery for the UAE automotive industry this year
UAE’s automotive market has recorded a 9.3% growth in the first half of 2022
The automotive industry is one of the most important indicators of economic performance. When there’s a steady increase in new automotive sales, it indicates that the economy is healthy and there is a high propensity for growth across all industries.
Conversely, low automotive sales indicate poor economic health as consumers tend to shy away from big investments such as cars.
If you’re looking for UAE automotive statistics for 2022, check out our list below:
New Car Sales
In the UAE, new car sales are expected to increase by up to 30% in 2022, according to a report. Large SUVs have the largest market share in the passenger vehicle segment. Hybrid cars and electric vehicles are predicted to gain an increase in market share.
With a market share of 30.7%, Toyota led in terms of new car sales with their best-selling car model, the Toyota Land Cruiser.
However, car sales are expected to slightly decline from US$4.2 billion in 2018 to US$3.98 billion by 2023.
Recovery in June
A report also claimed that the UAE market started growing again. In the month of June, 19,582 units were sold a 6.7% increase compared to the previous month, and a 5.4% increase in Year to Date sales compared to 2021.
Overall, UAE’s automotive market has recorded a 9.3% growth in the first half of 2022 compared to the same period in the previous year.
Back to Full Throttle
With the UAE recovering from the pandemic, the overall automotive industry is back to full throttle, with buyer interest expected to exceed even preCOVID-19 numbers.
Automotive companies must brace themselves for a surge in demand. They must learn to set themselves apart from the competition by applying best practices including collecting records of customers, offering personalized services, and sending promotional content relevant to their target audience’s needs.
If you want to learn more about upgrading your sales and marketing practices using technology, book a free demo with us here at Saphyte.
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