Saudi car sales up 10pc last year
Riyadh, January 29, 2014
Saudi Arabia recorded a 10 per cent growth in the sale of cars last year, compared to the previous year, a report said.
As many as 570,000 cars were sold in the kingdom during 2013, the Arab News report said.
It quoted Thierry Sabbagh, Middle East director of sales at Ford Motor Company, as saying competition in the market was fierce with car manufactures pushing aggressively to increase their market share.
The company has opened a regional office in Saudi Arabia to keep up with the growth rate in car sales, he said.
He said Saudi Arabia accounts for 60 percent of Ford's sales in the Middle East. The company sold an estimated 50,000 cars last year in the market, registering a growth rate of 12 per cent. In the Gulf region, it sold 85,000 cars, he said in the report.