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Discuss this article (16 Comments)Car giant offers UAE's first free redundancy cover
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 02 June 2009
CAR DEAL: Al Futtaim Automotive is offering the UAE's first free redundancy cover in a bid to boost the car market. (Getty Images)
Al-Futtaim Automotive, the UAE's largest car distributor, has announced it is offering a free redundancy cover to customers amid the impact of job losses in the country.
The deal will be valid on purchases from all their volume brands in an effort to restore confidence to 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 redundancy cover, a first in the UAE, gives Al-Futtaim customers the reassurance of a payout of 15 percent of the invoice value of the vehicle in the 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."
Al-Futtaim Automotive's brands have seen positive sales growth over the last couple of months, helped by the company's partnership with several leading banks that has led to finance underwriting criteria being relaxed considerably since the beginning of the year.
Under this partnership, Al-Futtaim Automotive now offers loans to those earning from AED3,000 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 in this sentiment," added Hunt.
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
I am just surprised
Posted by Mukhtar on Sunday 30 August 2009 at 05:22 UAE time
Guys, I am just surprised when I hear the group director of, Al-Futtaim Automotive, say "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."
Can this be true that car sales increased early quarter of 2009 while everyone was shocking from the financial crisis and no one was sure of what would happen!!! Plus, I find that the statement is contradicting itself, how could this happen while as we are approaching the end of the third quarter and people are still have big concerns about their job security, would not that be the case in the first quarter too (if not worse). I appreciate if such people respect the reader mind when they are giving such statements
This is been the case will all Toyota Agents in Gulf Region, they are refusing to face the reality, I am not sure what the reason would be. Is it the kind of financial directors/advisors are not reflecting the real situation to the decision makers or is it a problem with Toyota corporation itself that they are forcing them to a certain selling policy, or ... or ... The end result those people are not living the reality.
I read an advertisement says “buy one car, get the second free” and that was during that period that Mr Group Director of Al-Futtaim Automotive was saying that the sales were growing...
Posted by Mukhtar on Sunday 30 August 2009 at 05:22 UAE time
Guys, I am just surprised when I hear the group director of, Al-Futtaim Automotive, say "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."
Can this be true that car sales increased early quarter of 2009 while everyone was shocking from the financial crisis and no one was sure of what would happen!!! Plus, I find that the statement is contradicting itself, how could this happen while as we are approaching the end of the third quarter and people are still have big concerns about their job security, would not that be the case in the first quarter too (if not worse). I appreciate if such people respect the reader mind when they are giving such statements
This is been the case will all Toyota Agents in Gulf Region, they are refusing to face the reality, I am not sure what the reason would be. Is it the kind of financial directors/advisors are not reflecting the real situation to the decision makers or is it a problem with Toyota corporation itself that they are forcing them to a certain selling policy, or ... or ... The end result those people are not living the reality.
I read an advertisement says “buy one car, get the second free” and that was during that period that Mr Group Director of Al-Futtaim Automotive was saying that the sales were growing...
Re: Pay for Your Sins
Posted by Moe, Dubai, UAE on Sunday 5 July 2009 at 08:38 UAE time
Geekay, your story reminded me of my story with al Futtaim some 2 years back, which made me decide i will not Ever go for a Toyota in this country as long as they are the agent, i went to the showroom to check a prado, and i was just asking for the price and specs etc with the sales lady, then after she gave me the details i was just asking if they give free service with the car for the first few kms, and she said in a very rude tone " No sir, we dont, if you want you get urself a Pajero !!", now it is hilarious to see the free registration, service and redudancy cover offered with their cars, but believe me i wont even think of it, unless they are giving it for free, only then i Might, might might think about it, that is what i like about this financial crisis, Egos are Falling, cash is King
Posted by Moe, Dubai, UAE on Sunday 5 July 2009 at 08:38 UAE time
Geekay, your story reminded me of my story with al Futtaim some 2 years back, which made me decide i will not Ever go for a Toyota in this country as long as they are the agent, i went to the showroom to check a prado, and i was just asking for the price and specs etc with the sales lady, then after she gave me the details i was just asking if they give free service with the car for the first few kms, and she said in a very rude tone " No sir, we dont, if you want you get urself a Pajero !!", now it is hilarious to see the free registration, service and redudancy cover offered with their cars, but believe me i wont even think of it, unless they are giving it for free, only then i Might, might might think about it, that is what i like about this financial crisis, Egos are Falling, cash is King
Pay for your sins
Posted by Geekay, Dubai, UAE on Thursday 4 June 2009 at 12:25 UAE time
Way back in Spet 2008, I remember asking Al Futtaim for a test drive for Land Cruiser. The salesgirl outright refused saying there is no car available/there is a long queue for test drives/Managers use these cars, etc. How rude was that. If I am ready to spend Dhs 150K odd on the car, the least I can get is a test drive before I make up my mind. I have heard some precious customers are offered test drive cars for days(if not weeks). Al Futtaim should reduce the price to reasonable levels to encourage buyers and not be greedy anymore. They already have a pile of cars which they are desperate to sell. Recently a salesperson promised delivery within a week with all specs I needed. I think their prode in having the great brands have turned to arrogance in their marketing teams who treated customers badly in the past.
Posted by Geekay, Dubai, UAE on Thursday 4 June 2009 at 12:25 UAE time
Way back in Spet 2008, I remember asking Al Futtaim for a test drive for Land Cruiser. The salesgirl outright refused saying there is no car available/there is a long queue for test drives/Managers use these cars, etc. How rude was that. If I am ready to spend Dhs 150K odd on the car, the least I can get is a test drive before I make up my mind. I have heard some precious customers are offered test drive cars for days(if not weeks). Al Futtaim should reduce the price to reasonable levels to encourage buyers and not be greedy anymore. They already have a pile of cars which they are desperate to sell. Recently a salesperson promised delivery within a week with all specs I needed. I think their prode in having the great brands have turned to arrogance in their marketing teams who treated customers badly in the past.
What a great idea
Posted by Etisalgood, Dubai, UAE on Wednesday 3 June 2009 at 14:03 UAE time
Let me get this straight: Al Futtaim is going to lend additional money to borrowers who have lost their jobs? O yeah, nothing can go wrong there.
Posted by Etisalgood, Dubai, UAE on Wednesday 3 June 2009 at 14:03 UAE time
Let me get this straight: Al Futtaim is going to lend additional money to borrowers who have lost their jobs? O yeah, nothing can go wrong there.
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