In a bid to improve and enhance car sales, Al Futtaim Automotive, the UAE's largest car distributor, announced it is offering a free redundancy cover on purchases from all their volume brands.
The move is expected to provide a further confidence boost for those currently delaying a vehicle purchase due to job security concerns.
The group represents Toyota, Honda, Volvo, Chrysler, Jeep, Dodge as well as Automall, Al Futtaim Automotive's pre-owned car division.
The exclusive free redundancy cover, a first in the UAE, gives Al Futtaim customers the reassurance of a payout of 15 per cent of the invoice value of the vehicle purchased in the unfortunate event of them losing their job involuntarily. The customer is free to use this payout as they wish. For example, if the vehicle was purchased on finance, the payout can be used to continue to make their monthly payments while they find new employment.
Len Hunt, Group Director, Automotive, Al Futtaim, said: "Whilst our sales have grown during the first quarter of this year, our research has shown that there are a still a significant number of customers who want to take advantage of our current strong offers but are holding off purchasing due to concerns about their job security. Therefore, we decided to launch this free redundancy insurance product, which is provided by our in-house Arab Orient Insurance Company, the UAE's only "A" rated insurer, to give these customers the ability to buy one of our cars with added confidence."
Hunt said: "As the country's largest distributor of auto brands, we believe that the new offer, when added to our other strong promotions currently available, such as free motor insurance and free vehicle servicing, provides those seeking a new car the best offers the UAE has ever seen."
Al Futtaim Automotive's brands have seen positive sales growth over the past couple of months. This growth has been helped by Al-Futtaim's unique partnership with several leading banks that has led to finance underwriting criteria that have been relaxed considerably since the beginning of the year. Under this partnership, Al Futtaim Automotive now offers loans to those earning from Dh3,000 per month, a return to situation before the change in economic climate.
"We are very positive about the future and we want our customers to share this sentiment. This latest addition to our line-up of consumer offers means that Al Futtaim Automotive customers can now visit our showrooms and drive away in a new car with confidence and in knowledge they have received fantastic value for money," said Hunt.
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