Arab News Japan

UAE-based Al-Futtaim Automotive announced a strong start to the year for two of its leading automotive brands Toyota and Lexus, driven by strong consumer demand for new models that drove an increase in market share, signaling a recovery from a pandemic-driven slump.

The news comes three months after automotive veteran Andy Barratt was appointed Managing Director of both Al-Futtaim Toyota and Al-Futtaim Lexus in the UAE at the start of the year.

“Despite a challenging year and slowing car sales in the region, Al-Futtaim Automotive increased sales across two of its key brands off the back of the introduction of innovative and much-anticipated enthusiast products,” Barratt said in a press release.

The company revealed that new SUV models, including the Toyota Highlander and CHR, were responsible for driving the increase in market share, with sales up 2.8 percent and 6.7 percent respectively.

Al-Futtaim Toyota sales increased from 34.1 percent in February 2020 compared to 34.3 percent in February. 

While Al-Futtaim Lexus sales increased amid the release of Lexus’ flagship SUV the LX570, amounting to over 50 percent of market share, and an 3 percent month on month increase. 

This was compounded by the launch of the all-new Lexus IS in January, which witnessed the sales of the mid-size sport sedan increase by over 63% and contributed to the growth in market share 17 percent from January to February. Additionally, the inclusion of the the new LC Convertible that joined the Lexus lineup in January and gained rapid sales traction, achieving a market share of 7 percent in its first two months of sales.

“Since joining the group, my role has been to apply Al-Futtaim’s entrepreneurship and relentless customer focus to the automotive division to enable us to continue to grow and expand; responding to the changing needs of our customers. The increase in sales is a direct result of our continued commitment to our customers to deliver on our brand promise to enrich the lives of our customers every day. We have started strong and can assure customers of lots more exciting products for the rest of the year,” Barratt said.

The growth in sales is attributed to rising consumer confidence, product offerings by both brands and the introduction of new and innovative ownership solutions such as retail and commercial leasing, which have provided customers with tailored packages that meet both, their financial as well as mobility needs.