Most of the demand is riding on the back of high oil prices, strong economic growth and the increasing popularity of F1, reports Motoring SA. Ferrari, for instance, has experienced sales growth of 120% in the UAE, and a similar story can be told for the likes of Lamborghini, Aston Martin and Porsche.
In fact, Aston Martin is now 50% owned by an Arab investment firm and is set to expand in Bahrain with a new showroom. A key point with the mid-east market is that a substantial number of buyers are women, as explained by Aston Martin’s rep in the Middle East, Emma Hamilton, who commented that “Kuwait is Aston’s biggest market and also has the highest number of women buyers."
This is a story echoed by most of the exotic brands including Germany’s Ruf, which has established a $20 million plant in Bahrain. Once again Kuwait is its largest market and it also has its highest number of female buyers here.