Automobile Sales Drop by 20 Per Cent in Abu Dhabi

The automobile sales in Abu Dhabi have dropped by 20 per cent during the first four months of 2009 compared with same period last year, as banks have tightened the terms and conditions for car financing, say officials of Al Masaood Automobiles, distributors for Nissan cars in Abu Dhabi.

The banks have increased the interest rate to an average of 5.5 per cent from 3.5- 4.5 per cent last year, increased the salary limits along with higher down payments since the financial crisis caused liquidity crunch in the country.

Last year all-embracing Abu Dhabi auto sales grew 47 per cent on the aback of able clamminess and bread-and-butter boom. Al Masaood Automobiles is alms aggressive absorption amount of 4.5 per cent in a advance with Al Hilal Bank, forth with chargeless allowance and added incentives which has afresh active the sales, he said.

Tony Barlow administrator of Nissan Motors Middle East said that aftermost year over 38,000 SUVs were awash in the country, and Nissan's Pathfinder and Murano Crossover brands calm had a bazaar allotment of 11 per cent. He said that abstracts for the year 2009 are positive.

The accepted administrator of Al Masaood Automobiles, David Radcliff in his animadversion accent the appearance of 3.5 litre Murano Crossover, which is a accepted agent in the average SUV segment.