Last Updated on 3 months by newseditor
2022, the year of recovery for the UAE Auto Market. The automotive industry is expected to be amongst the firsts to recover due to aggressive sales of models in all sectors. While SUVs continue to dominate the market, newcomers such as EVs and hybrids have gained consumer favor by providing environmentally friendly alternatives.
To learn more about the UAE auto market, Crypto News Middle East spoke with Belal Nasr CEO of New Auto FZCO. Belal discusses the purpose of cryptocurrencies in this industry, as well as his goals for the UAE market.
What is your main focus in the Middle East?
New Auto strives to be the go-to showroom for customers in the MENA region who are looking for a trusted and experienced business that can assist them in purchasing and exporting cars.
What makes the UAE auto industry different from others?
The UAE auto industry is always quick to keep up with trends in the region, and adapts entirely to any international roadblocks that it might face as an industry as a whole. The UAE car market is one of the regions that has bounced back stronger after a rather prolonged slump. We have recorded a growth in sales in 2022 with passenger cars experiencing an upward graph and alternative fuel options providing the much-needed throttle to boost overall car sales revenue.
Which cryptocurrencies can be used to purchase cars from your showroom?
At the moment cars can be purchased using Bitcoin or Ethereum, but we are researching alternate cryptocurrencies which we might add as a viable cryptocurrency payment option. We are anticipating maximum sales for Electric cars as we are witnessing an upward trend for cars that are fuel efficient and sustainable for the environment.
Will customers be able to purchase all cars using cryptocurrencies or a select few?
Customers can purchase any of our large inventory of cars using cryptocurrency.
Our showroom welcomes customers to an open and relaxed environment where they can communicate with any of our experienced sales agents, who will help them find the exact car that suits their needs along with offering export solutions to any country of their choice.
Do you think that the use of cryptocurrencies for purchasing cars will change the spending habits of customers?
Once customers realize that a purchase as important as buying a car can be performed smoothly, we believe it will aid in accelerating the adoption of cryptocurrencies in other industries as well.
Despite the crisis, cryptocurrencies have been widely accepted today. The continuous demand for the purchase of cryptocurrencies was a step towards the future of digital currencies; according to a Deloitte report, 79% of shops anticipate accepting cryptocurrencies as a form of payment in the upcoming years.
Even if the future of money is still uncertain, we can surely anticipate at least a few automobile transactions to be made over the course of the next few years with New Auto FZCO.