Skip to content Skip to Search
Skip navigation

Turkey helps drives Alfa Romeo’s Q1 growth

By Pramod Kumar
Alfa Romeo
Turkey contributed 55 percent of Alfa Romeo's total growth in the Middle East in Q1 2023

Italian luxury car manufacturer Alfa Romeo said Turkey was its fastest-growing market.

Turkish buyers helped new registations of Alfa Romeos across the Middle East to rise 149 percent year on year in the first quarter of 2023. 

The Arab country contributed 55 percent of the total growth in the Middle East. Volumes in Turkey quadrupled year-on-year during the first quarter, the company said in the statement.

While the company expects “2023 will be a complex year filled with challenges”, sales in Europe increased 136 percent as market share doubled in the first quarter year-on-year. 

Austria and Portugal reported 317 percent and 400 percent growth in sales. Performance in key countries such as Italy, France, Germany and the Netherlands doubled, with more than twofold its market share in Q1 2023 year-on-year.

The launch of the new Tonale in Europe, coupled with updates for Giula and Stelvio, is “expected to drive continued growth”, the car manufacturer said.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]