Saudi car markets are in the fast lane
Saudi Arabia has evolved into one of the largest automotive markets in the world with the estimated value of the sector poised to hit around SR26 billion ($6.9 billion) in the coming years, according to experts.
The value includes direct sales, spare parts and accessories, and after-sales services, said the experts.
With an estimated 75 per cent of all Saudi males of driving age owning at least one vehicle, the Kingdom’s high automobile penetration rate has been driving the rapid growth of the country’s auto parts and after-sales service market, while creating opportunities for leading international brands to sustain their expansion initiatives in the Kingdom and across the region.
Recent statistics from the Board of the Saudi Chambers of Commerce confirm that the Kingdom has become one of the largest automotive markets rolling out around 700,000 vehicles in 2011.
Saudi automotive companies typically augment their market share by driving up competitiveness in genuine spare parts, providing superb after-sales services and introducing new vehicles for different audiences whether individuals or companies.
With this in mind, Suzuki Saudia, the sole distributor of Suzuki vehicles in the Kingdom and part of the Bamarouf Group, has decided to introduce the new 2013 Suzuki Swift DZire sedan.
The move reflects the company’s strategic expansion within the Saudi automotive sector, especially as the Kingdom is enjoying steady economic and business growth and is witnessing heightened demand for vehicles.
The Swift DZire offers a perfect suspensions – the front integrating a MacPherson strut with coil spring and the rear featuring a torsion beam with coil spring – provide higher mounting rigidity and confident stability, said a senior official.
Maher Al Nabawi, the deputy GM of Suzuki Saudia, said, “The Swift DZire is perfect for small- and medium-sized families, young drivers, and sedan enthusiasts who want a small mid-sized vehicle that can deliver high standards of performance, safety, luxury, and durability."
"Drivers will definitely enjoy its workhorse capabilities and how it deftly handles on the roads," Al Nabawi added.
- Saudi Arabia's automotive sector to sustain long-term growth, reach over SAR 80.6 billion by 2014
- Ramadan spurs SR26.6b in ATM withdrawals in Saudi Arabia for October
- Saudi Arabia maintains $2.76 trade surplus with Arab World
- Saudi private sector to invest US$150 billion in real estate projects until 2012
- Saudi assets of investment funds up 8.6 percent