Saudi Arabia's automotive sector to sustain long-term growth, reach over SAR 80.6 billion by 2014
The Kingdom of Saudi Arabia's (KSA) automotive sector is poised to sustain a positive growth outlook over a five-year period with sales value expected to reach over SAR 80.6 billion by 2014, according to a recent report by BMI. The robust growth forecast is underpinned by the positive performance of the commercial vehicle segment, which is expected to remain strong over the next five years.
Riyadh Motor Show 2010 – The 28th International Exhibition for Motor Vehicles, and Saudi Autoshop 2010 – The 14th International Exhibition for Auto Repair Equipment, Tools, Parts and Accessories, will feature an expanded showcase of the latest automotive products and services as part of a strategy to complement the positive growth trend by providing a gateway for leading local and international brands to strengthen their foothold in the Saudi automotive market. Thousands of visitors from all over the world are expected to participate in the Riyadh Motor Show and Saudi Autoshop, which will be concurrently held from December 5 to 9, 2010 (29 Dhu al Hijjah 1431 till 3 Muharram 1432) at the Riyadh International Convention & Exhibition Centre.
Kamil Al Jawhari, Project Manager of Riyadh Motor Show at Riyadh Exhibitions Company, said: "The robust growth forecast underlines the resiliency, the strength and the sound fundamentals of Saudi Arabia's automotive market, creating a genuinely attractive business environment for local, regional and international investors and key industry players. Riyadh Motor Show and Saudi Autoshop will help usher in new investors and businesses and enable them to take advantage of the excellent long-term growth prospects in Saudi Arabia."
"There are several new exhibitors participating this year, while thousands of visitors will be converging for the back-to-back events, providing the perfect opportunity to explore business opportunities and expand into new markets. Moreover, in line with the growing demand for commercial vehicles, we have created dedicated sections that provide an extensive range of products and services for this segment during the Riyadh Motor Show," added Al Jawhari.
Riyadh Motor Show 2010 will showcase the latest models of passenger cars, station wagons, Sports Utility Vehicles (SUV), pick-up trucks, motorcycles, Special Purpose Vehicles, and 4x4 vehicles. It will also include automobile financing and insurance services.
Saudi Autoshop 2010 will feature the latest automobile accessories and repair service equipment; gas station equipment; automobile parts; tires, exhausts and batteries; and automobile care products.
- UAE and China reach for the stars with MOU on outer space research
- United Airlines to end Washington-Dubai route: a case of sour grapes?
- Qatar seals $7.02 billion deal for French Rafale fighter jets
- A year later: how safe is flying after the Malaysian airlines' disasters?
- Nationalist glory or economic revival? Why Egyptians are rushing for two-way traffic in the Suez Canal
- Automotive sales in Saudi Arabia to hit over SAR 69 billion in 2010
- Expected leads of automotive industry to reach 94 billion SAR
- Saudi's sport and fitness sector valued at $20B over next five years: report
- Growing population, rising income and economic resilience push Saudi food imports to over SAR 65 billion in 2009
- Saudi continues to offer lucrative prospects in SAR 9 billion market for automobile accessories, repair, after-sales service