Sharjah auto markets in danger of collapse due to black market auto, UAE media says

Sharjah, United Arab Emirates – Sharjah Auto Market and Auto Authority of Abu Dhabi (AAAD) are in danger after a new black market model of cars with diesel engines began arriving in the UAE.

AAAD said the cars were not available in the United Arab Emirate and would be subject to the full import controls imposed by the government.

A spokesman for the AAAD told Al Jazeera the new vehicles were designed by the Chinese automaker Zhongnanhai to be a high-performance model with an electric powertrain.

He said that the cars would be sold in the local market but would be restricted to the AAad.

AAAD said in a statement on Monday that the Chinese company Zhongnianhai has developed a new diesel powered model with no diesel engine that will be sold for UAE import.

The vehicles have an estimated production of 10,000 units.

The AAAD spokesman said the vehicles were not being imported into the UAE at this time.

The spokesperson said the AA AD would closely monitor the situation and assess the possibility of importation of these vehicles to the UAE market.

Shaykh Abu al-Hassan al-Saud, chairman of AAAD, told Al Arabiya English that the UAE was considering all possible options including the possibility to take in imported vehicles and then restrict imports to certain areas.

He said that AAAD would discuss this issue with the relevant government departments to ensure that the vehicles will not be allowed to enter the UAE after the government issued the import restrictions.AAAD is the country’s largest auto market and has an estimated market value of about $20 billion.

It is owned by Dubai-based Emirates Motor Group, which is owned and controlled by Abu Dhabi.

The company has about 300 dealerships in the Gulf country.

Zhongniang has made significant investments in other markets, including China and the United States.

In 2014, the company sold to the Chinese state-owned CITIC Group for about $US1.4 billion, in a deal that was reported to be worth $US50 billion.

The Chinese government is also a major investor in AAAD.

The new diesel cars are expected to be imported from China, according to a report by the Financial Times in December.

The cars would not be subject as import restrictions as they would have been produced in the US.