Al-Futtaim Automotive marks a strong first half in 2021 with robust financial results, reassuring the continuous recovery of the UAE automotive industry after a turbulent year. Al-Futtaim Automotive brands Toyota and Lexus reported strong sales and market share results, fueled by key new model launches and shifts in customer demand which it reacted to quickly.
Andy Barratt, Managing Director Al-Futtaim Lexus and Al-Futtaim Toyota said: â€śAfter ending 2020 on a high note, despite global challenges imposed by the Covid-19 pandemic, we are delighted to not only sustain that success but exceed it with staggering H1 performance. Our success was driven by exciting and much-awaited new launches and the unrivalled quality of our products and customer service. These substantial results demonstrate the success of Al-Futtaim Automotiveâ€™s vigorous strategy of remaining laser-focused on customer satisfaction and offering fantastic reliable models at all times.â€ť
Barratt added: â€śWe are committed to maintaining this success in the rest of the year and beyond, especially with our newly launched showrooms in Al Ain and Ajman. These showrooms are a testimony to Al-Futtaimâ€™s entrepreneurship and represent its dynamic business model that aims to drive success and ensure sustainable growth that helps the automotive industry and the countryâ€™s economy in general.â€ť
Al-Futtaim Toyota sales in the first six months of the year increased by a remarkable 12% compared to the same period last year, driven by exciting new launches, including the Highlander, C-HR, and Corolla Cross. The brandâ€™s momentum was also sustained by 2021â€™s most highly anticipated launch of the all-new Land Cruiser 300; which increased the modelâ€™s market share. The model hit over 1,000 sales in the first week alone.
Commercial models like Hiace and Hilux experienced an increase in market share as well, by 8% and 7% respectively compared to 2020â€™s H1. In addition, models like Corolla, Yaris Sedan, and Supra had their share of success with increased market share by 6%, 3% and 37% respectively compared to 2020.
Al-Futtaim Lexus sustained its good performance in H1 2021, with a slight increase in market share compared to 2020. This yearâ€™s Q2 marked the strongest period for the brand as market share increased by more than 3% compared to 2020 and inched up 5.7% from Q1 2021.
Models like the Lexus LX continued to dominate and lead the Large SUV segment with more than 54% market share, highlighting the marketâ€™s continued confidence in the SUVs unparalleled luxury. Al-Futtaim Lexus recently launched the IS which had a notable positive impact on the brandâ€™s performance in H1, increasing its market share to 15.8%. Other models that also contributed to the success of Lexus market share in H1â€™2021 comes from RX, RX hybrid, Flagship Lexus LS and Lexus LC.