Gulf region to buy record number of luxury cars - Porsche asks Cayenne SUV buyers to wait

The Gulf region has become a leading market for luxury cars and wealthy individuals are set to buy a record number of luxury cars this year from the likes of BMW’s Rolls-Royce, Fiat’s Maserati and Porsche SE.

According to data released recently sales of high end cars in Gulf countries including the UAE, will probably grow by 20% this year which is more than double the overall rate of 9.7% in the segment last year.

IHS Automotive said the sales spurt will probably continue and the market is expected to grow more than double from 2010 to 2015, comparable to the estimated 51% increase globally.

Pierluigi Bellini, Associate Director of Middle East research at IHS Automotive in Milan, said, buying luxury cars in the Gulf is “an extension of the ego”.

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Umberto Maria Cini who oversees the Middle East and Africa for Maserati, said, “Thanks to the UAE, we were able to counterbalance the slowdown in other parts of the region”.

Cini added, If the sales pickup from May and April continues the Fiat unit may “run out of cars” in the next few months, predicting a gain of more than 10% for the rest of 2011.

George Wills, Acting Managing Director for the region predicted growth of at least 10% in the second quarter. He said in an e-mail, Porsche is asking UAE buyers of its Cayenne SUV to wait at least three months to get delivery, while a 911 sports car may take as long as seven months to arrive.