The Kingdom's automotive market is tipped to record a five per cent growth this fiscal after a massive 20 per cent slump it took last year.
"The market is on the upswing and 2010 is turning out to be a good year for the sector," said Sandeep Mathur, Senior Manager, Marketing, Almoayyed Motors, yesterday.
He said retail sales were going up reflecting the improved market sentiment.
Nissan operations under the Almoayyed group grew 26 per cent in the last two months and the momentum was still on in the post- Ramadhan period as well, he said.
"We made a 15- 20 per cent growth till the end of the first nine months of the year," he said.
Buoyed by the performance, the company was gearing up for fiscal 2011 with aggressive expansion plans.
"We will open an exclusive Infiniti showroom besides two service centres at Salmabad and Manama."
Tighter lending, inventory shortage and lower consumer demand contributed to last year's decline, he said.
But, automotive sales have been in recovery mode since they bottomed out in Q2-09 even as economic conditions have been steadily improving since then.
"The solid performance we are forecasting comes on the heels of the auto market's resilience in 2009, when sales posted a decline," said global consultancy, Business Monitor International.
Y. K. Almoayyed & Sons has been the authorised Nissan dealer in Bahrain since 1968 and offers the entire range of passenger cars, SUVs and commercial vehicles.
Nissan's multimillion dinar state of the art complex at Sitra is fully integrated with sales, service, arts and delivery areas.
By K.V.S. Madhav
© Bahrain Tribune 2010
