Saudi auto sales to hit 880,000 units by 2013
Riyadh, November 15, 2009
Automotive sales in Saudi Arabia will reach 880,000 units by 2013, representing a 50 per cent increase from 2008 levels, according to recent studies.
Buoyed by the country's growing population and a positive economic growth forecast wherein GDP is expected to expand by 2.1 per cent, automotive sales in the country will subsequently expand the business opportunities of related industries such as automotive parts and services, the report revealed.
Riyadh Motor Show 2009 and Saudi Autoshop 2009, two of the biggest auto industry events in the Middle East, will be held concurrently from December 12 to 16, at the Riyadh Exhibitions Centre, opening new gateways for regional and international investors to capitalise on the rapidly growing auto market of Saudi Arabia.
Riyadh Exhibitions Company (REC), organiser of Riyadh Motor Show 2009 and Saudi Autoshop 2009, pointed out that automotive sales in Saudi Arabia are expected to reach 610,000 units this year with passenger car sales up 2.4 per cent and sales of commercial vehicles increasing by 7.9 per cent.
'While the relatively favourable economic conditions have helped consolidate Saudi Arabia's reputation as a highly attractive automotive market, several other factors have contributed to the encouraging auto sales growth in 2009,' said Kamil Al Jawhari, project manager of Riyadh Motor Show at Riyadh Exhibitions Company.
'These factors include the imposed restrictions on the age of imported used vehicles and the population growth in the country, which has helped spark the increase in demand for vehicles and auto parts and services. In addition, the local weather condition, which can be harsh on vehicles, has also been a factor in the steady demand for auto maintenance services.'
'Riyadh Motor Show 2009 – The 27th International Exhibition for Motor Vehicles', will display 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 2009 – The 13th International Exhibition for Auto Repair Equipment, Tools, Parts and Accessories', will feature the latest automobile accessories and repair service equipment; gas station equipment; automobile parts; tires, exhausts and batteries; and automobile care products of 55 exhibitors.
Riyadh Motor Show 2009 and Saudi Autoshop 2009 are expected to gather a global participation of individual automobile and automotive companies from Saudi Arabia, Turkey, China, Thailand, UAE, Germany and other countries.
The back-to-back events jointly expect a combined 35 per cent growth in participation over the 2008 edition, occupying a total of 15,000 sqm of indoor and outdoor exhibition space, he added.-TradeArabia News Service
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