We at Inter Emirates Motors (IEM) are thrilled to announce our remarkable achievements throughout 2023, marking a triumphant year of unprecedented growth and accomplishment. Notably, our efforts resulted in an outstanding increase in market share, nearly reaching4.5%, firmly establishing our position among the industry's top five players in the UAE automotive market. This remarkable growth underscores our unwavering commitment to delivering exceptional service and innovative automotive solutions in line with the dynamic needs of the UAE market.
The year 2023 witnessed a staggeringYear-on-Year growth of almost 70%, a testament to our relentless pursuit of innovation and customer-centric approaches. The introduction of cutting-edge models like ZSEV, MG4, PHEV, and Marvel R exemplifies our dedication to advancing technology and sustainable mobility solutions, perfectly aligning with the UAE's forward-thinking consumer base.
Anticipating future trends and consumer demands, we are gearing up for an exciting 2024 with ambitious plans to further diversify the MG brand portfolio. The introduction of eight new models will cater to the ever-evolving preferences of the discerning UAE market.Additionally, responding to market dynamics and customer feedback, we plan to expand our service centre network by opening two new after sales service centres in Al Quoz and Al Ain, elevating the total number of service centres to six across the UAE. The eagerly anticipated grand opening of the all-new Dubai showroom on Sheikh Zayed Road reaffirms accessibility and exceptional customer experiences in the regional automotive industry.
Our dedication to excellence was recognised earlier this year when we were honoured with the Outstanding Distributor Award by MG, further reinforcing our commitment to elevating the MG brand in the UAE.With an unwavering resolve and forward-thinking approach, we are poised for continued growth and success, emphasizing innovation, customer satisfaction, and market adaptability as cornerstones for our future endeavours.