UAE Wants a BMW
By Brendan Moore
Dubai, United Arab Emirates (UAE):
Are you ever curious as to what people elsewhere lust for in terms of automotive iron? Well, it’s not so different elsewhere as desire for expensive performance cars seems to transcend cultural differences.
Mawarid Finance, a finance company that makes auto loans in the Mideast through Sayyarat Mawarid, an auto finance unit that abides by Islamic principles, recently conducted a survey among visitors to the Middle East International Motor Show in Dubai asking the question, “What is your dream car?”
The answer from the largest number of visitors came back, “BMW”.
BMW garnered the most votes with 13.4%, Mercedes came in second at 12.2% and Lamborghini grabbed third place. The other choices spanned the usual theoretical dream car lineup of Porsche, Jaguar, Audi, Aston Martin, Ferrari, etc.
Respondents at the auto show were asked about their dream car, model, color, and the most common means of payment, whether installment auto finance loans or cash. Participants’ nationalities were all over the place, as is the UAE’s multi-cultural population, with only one-third of the survey respondents being UAE nationals. As you might expect in the male-dominated society, male respondents were 82.7% of the sample.
“Interaction with all community groups ranks highly in Mawarid’s strategy to reach the widest consumer bases and develop innovative products that better meet their different needs,” said Chief Executive Officer Mohamed Musabbeh Al Neaimi. “The ‘dream car’ survey is the first among many such initiatives that our company will launch in the future.
“Our platinum sponsorship generated enormous benefits for Mawarid Finance in introducing our company and innovative products, and launch Sayarat Mawarid as a competitive and appealing auto finance scheme.”
In order to comply with Islamic principles, Sayarat Mawarid first buys the car, and then resells it to the buyer through installment periods as long as 72 months.
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