Navistar sees 12% growth
Navistar Global Operations Corporation is forecasting double digit growth in 2010 and 15 per cent market share in the Mena region by 2015, as the company expands its manufacturing operations and strengthens its distribution network.
The US-based manufacturer of world class commercial trucks and engines sees strong potential in the region's commercial vehicles market and will pursue opportunities in Abu Dhabi, Kuwait and Kingdom of Saudi Arabia in 2010 to achieve the growth forecast.
Navistar, the market leader in the US for trucks and buses, has invested heavily in truck and engine plants across the region, including a major plant in India, with production expected to commence this year. Research is also under way for two more plants in the region.
Managing Director, Arshad Khan, said: "While we are relatively new to the region, we have enjoyed success by associating ourselves with strong partners, including our UAE distributor, Emirates for American and European Cars.
"Our solid base of dealers are represented in Saudi Arabia, Qatar, Oman, Jordan, Kuwait, Yemen, Lebanon and Iraq. We also have distributors in Egypt, Tunisia, Algeria and Morocco."
Nick Webb, Director of Streamline Marketing Group, organisers of Commercial Vehicles Middle East said: "While 2009 was a tough year for the automotive industry as a whole, many international firms are optimistic that the region's commercial vehicles sector will turn around in 2010, with major players capitalising on growing demand from the private and public sector fleet managers."
Navistar will showcase its products at Commercial Vehicles Middle East exhibition on March 9-11 in Dubai at the Dubai International Convention and Exhibition Centre.
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