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by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 13 January 2008
Demand for commercial vehicles in the Middle East has grown considerably over the years, catching the attention of truck manufacturers throughout the world. In particular, a number of Japanese companies have successfully capitalised on the regional boom, with heavyweights such as Mitsubishi, Nissan and Toyota reporting on massive sales growth in 2007.
Perhaps a dark horse in the race for market leadership is fellow Japanese manufacturer Hino, which has taken on the titans from its home country to secure a 14% share of the medium duty trucks segment in the United Arab Emirates, together with 11% of the segment for heavy duty trucks.
It’s important to understand the demands of your customers, because the final product should meet their requirements, if not exceed them - Masakazu Ichikawa
Surprising, its regional presence has only lacked in the market for light duty trucks, which is currently the fastest growing segment in the truck market. However, through the launch of Hino's 300 series in the Middle East, the company is hoping to dramatically resolve this situation over the next year.
"The Middle East is considered a very attractive market for the automobile industry. The demand for commercial vehicles in incredibly strong at the moment, especially in the United Arab Emirates, Saudi Arabia and Oman," asserts Masakazu Ichikawa, senior managing director of Hino Motors.
"Of course, we've had a presence in the region for some time now, although we're hoping to become more active in the near future. The response towards our 300 series has already been favourable from the local market, which is very encouraging," he adds.
Hino's enthusiasm for the Middle East market has been fuelled by the results of a recent study, conducted in association with Al-Futtaim Motors, its exclusive dealer in the United Arab Emirates. According to the research, the market for light duty trucks in the country has doubled in size between 2004 and 2006, with further growth being forecasted in the next five years.
"This growth has clearly been driven by the overall strength of the economy, together with the expansion of the service and distribution sectors," says Ichikawa.
"Companies dealing in logistics, hospitality and fast moving consumer goods (FMCG) are ideal customers for the 300 series. All of these sectors are booming here at the moment, so I think the launch of these vehicles has been perfectly timed.
Company Profile: Hino Motors
Hino Motors was established in 1942 and has since been developing, manufacturing and marketing a diverse portfolio of trucks and buses throughout the world.
The company has evidently benefited from the international growth of the automobile industry, with its international sales peaking at a respectable 100,000 trucks and buses in 2006.
However, despite the global success of its operations, the Japanese manufacturer has implemented a strategic development plan to reinforce its future position in the commercial vehicle sector.
Through the development strategy, Hino is developing its product range and increasing its presence in core markets throughout the world, including Thailand, Indonesia and Australia.
In addition, the company is targeting a number of emerging markets for commercial vehicles, particularly in the Middle East, Africa and South America.
"Our global sales have doubled in the past six years, which is a great achievement for the company. However, the potential for even greater levels of growth should not be ignored for the future," says Masakazu Ichikawa, senior managing director of Hino Motors.
"We're planning to increase our international production to roughly 150,000 units by 2015, which will cater to the healthy market forecasts for the coming years."
Hino Motors was established in 1942 and has since been developing, manufacturing and marketing a diverse portfolio of trucks and buses throughout the world.
The company has evidently benefited from the international growth of the automobile industry, with its international sales peaking at a respectable 100,000 trucks and buses in 2006.
However, despite the global success of its operations, the Japanese manufacturer has implemented a strategic development plan to reinforce its future position in the commercial vehicle sector.
Through the development strategy, Hino is developing its product range and increasing its presence in core markets throughout the world, including Thailand, Indonesia and Australia.
In addition, the company is targeting a number of emerging markets for commercial vehicles, particularly in the Middle East, Africa and South America.
"Our global sales have doubled in the past six years, which is a great achievement for the company. However, the potential for even greater levels of growth should not be ignored for the future," says Masakazu Ichikawa, senior managing director of Hino Motors.
"We're planning to increase our international production to roughly 150,000 units by 2015, which will cater to the healthy market forecasts for the coming years."
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