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: “After 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 a staggering H1 performance. Our success was driven by exciting and much-awaited new launches and unrivalled quality of our products and customer service. These substantial results demonstrate the success of Al-Futtaim Automotive’s vigorous strategy of remaining laser-focused on customer satisfaction and offering fanstastic reliable models at all times.”
Barratt added: “We 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-Futtaim’s entrepreneurship and represents its dynamic business model that aims to drive success and ensure sustainable growth that helps the automotive industry and the country’s economy in general.”
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 brand’s momentum was also sustained by 2021’s most highly anticipated launch of the all-new Land Cruiser 300; which increased the model’s market share. The model hit over 1,000 sales in first week alone.
Commercial models like Hiace and Hilux experienced an increase in market share as well, by 8% and 7% respectively compared to 2020’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 year’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 market’s continued confidence in the SUVs unparalled luxury. Al-Futtaim Lexus recently launched the IS which had a notabale positive impact to the brand’s performance in H1, increasing its market share to 15.8%. Other models that also contributed to the success of Lexus marketshare in H1’2021 comes from RX , RX hybrid , Flagship Lexus LS and Lexus LC.