Ford accelerates GCC product sales to 52pct in Q1

US automaker Ford confidently cruised in to the second quarter of 2011 with Q1 gross sales figures within the Gulf acquiring soared by a hefty 52 per cent, year on yr. The surge was observed despite the political unrest that continues to beset the Center East and North Africa (Mena) area.

Hussein Murad, director of revenue at Ford Middle East, said that their 1st quarter results have appeared to become virtually unaffected through the regional tension as crucial growth markets like Saudi Arabia, the UAE and Kuwait remained upbeat.

"Most of our development came from these markets, which have proven to be economically and politically steady. Although smaller markets like Bahrain, Syria and Lebanon may possibly have already been affected, their figures didn't hit our overall product sales for that area," Murad mentioned on Sunday during an announcement of Ford’s first-quarter results.

In the UAE, Ford recorded a income increase of 32 per cent, outmaneuvering the nearby vehicle industry’s growth rate of twelve per cent throughout the very first 3 months of this yr.

Murad attributed this enhance towards the company’s strong lineup of items such as Explorer, Edge and Taurus, which were launched within the nation final yr and have had substantial following considering that then.

Ford also roared in Saudi Arabia and Kuwait because it registered whopping revenue increments of seventy five per cent and fifty per cent, respectively. The company’s Q1 outcomes, having said that, did not give the particular volumes of automobiles offered in the area.

Asked about their growth targets for 2011, Murad said that Ford aims to seize at least ten per cent market share with the GCC’s car market. In the instant, the carmaker accounts for 9 per cent of the UAE automobile market, 13 per cent of Saudi and extra than 11 per cent of Kuwait.

"We’ve began the 12 months strong so obviously, we have quite large hopes for the entire 2011. We are at present the second biggest automobile manufacturer [in the region] immediately after Toyota, as per Q1 numbers. We might like to complete the year strongly," he stated.

The executive is optimistic about reaching their objectives subsequent the start of new goods which include the brand new Ford Explorer and Focus inside the second 50 percent of this yr. The business also aims to enter the smaller auto market inside the GCC together with the launch of their compact vehicle Figo, which has had powerful presence within the Indian marketplace, growing by a massive 97 per cent to 29,804 units in the initial quarter of 2011 as opposed to 15,154 models last 12 months.

No direct hit from Japanese tsunami
Ford hasn't been directly impacted through the Japanese tsunami that damaged some facilities and halted outputs of rivals Toyota, Honda and Nissan as it does not have manufacturing vegetation in the earthquake-hit Asian country.

"About 90 per cent of our goods arrive from North The us as well as the remaining 10 per cent are from West Europe," says Murad.

He added that the real-term impact with the tsunami about the balance sheets of Japanese auto manufacturers will likely be felt in the 2nd and 3rd quarter.

Asked if he sees the Japan crisis giving Ford an edge over its Japanese rivals, Murad mentioned "we do not know what the market competitors will likely be inside the subsequent couple of months. Basically we’ll just attempt to outdo ourselves."

Outlook rosy amid unrest, oil price hike
An increase in petrodollars owing for the upswing of crude oil prices will assist boost liquidity in the Gulf marketplace, which continues to be witnessing a gradual improve in offered credit score amenities for automobile financing, mentioned Murad.

"Car financing is improving now compared to the past months and there is much more confidence inside the market. Issues are acquiring greater and we’re expecting it to go again to normal by 2012," he said.

Regardless of the international monetary slump, Ford Middle East managed to submit substantial will increase of 25 per cent in 2009 in comparison with 2008, and 22 per cent in 2010 more than the 2009 sales figures. Supplied that quarterly trends remain favourable, Murad expects Ford Middle East to register growth of in between 40 and 50 per cent by end-2011.

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