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Saudi Arabia: Automotive sector exceeding $ 21 billion by 2014

Global Arab Network - - Jihad Taki

Monday, 12 July 2010 08:09

Saudi_Arabia_automotive_sector_Car_market

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 $ 21.49 billion (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.

Global Arab Network

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