Saudi car sales to hit $25bn by 2013
Riyadh, December 12, 2009
The car sales in Saudi Arabia, the Gulf’s largest automobile market, is expected to hit SR94 billion ($25 billion) by 2013 as the Kingdom remains economically and commercially resilient against the global downturn, said an expert.
The Saudi automobile market, which is presently worth around SR33.75 billion inclusive of commercial automobiles and transport infrastructure, is expected to grow over 30 per cent to SR69.49 billion next year, said Mohammad Al Hussaini, deputy general manager at Riyadh Exhibitions Company, organisers of Riyadh Motor Show and Saudi Autoshop, two of the biggest auto industry events in the Middle East.
The largest market in the Middle East and fifth in the world for auto parts, accessories, service, and garage equipment, Saudi Arabia will see car sales zoom from 676,000 units in 2010 to 880,000 in 2013, Al Hussaini stated, citing sales data.
“The past months saw Saudi’s automobile sector managing more than SR2 billion growth in car sales amidst the global slowdown. The coming year will attract even more purchases as credit becomes increasingly available in light of the Gulf’s proven economic stability,' he noted.
'Moreover, the increasing availability of credit financing as a result of steady regional market revival is projected to boost domestic car sales from under 50 per cent to over 70 per cent in the next few years,' he pointed out.
Al Hussaini said sustained consumer confidence in the Gulf automobile market and in Saudi in particular is reflected in the strong anticipation towards the 2009 editions of Riyadh Motor Show and Saudi Autoshop.
Held under the patronage of Saudi Minister of Transport Dr Jobarah Al-Suraisry, the show opens on Saturday and will simultaneously run till December 16, 2009 at the newly-built exhibition centre.
'Riyadh Motor Show and Saudi Autoshop provide perfect platforms to reveal the present and upcoming performance, style and pricing options to Saudi and Gulf automobile consumers, businesses and enthusiasts,' Al Hussaini added.
Riyadh Motor Show 2009 – The 27th International Exhibition for Motor Vehicles will focus on passenger cars, station wagons, Sports Utility Vehicles (SUV), pick-up trucks, motorcycles, Special Purpose Vehicles, and 4x4 vehicles.
Special automobile financing and insurance packages will also be offered during the event.
Saudi Autoshop 2009 – The 13th International Exhibition for Auto Repair Equipment, Tools, Parts and Accessories, on the other hand, will highlight the latest automobile accessories and repair service equipment; gas station equipment; automobile parts; tires, exhausts and batteries; and automobile care products of more than 50 exhibitors.
Both events are expected to attract more than 180,000 trade and public visitors and easily post a combined 35 per cent increase in participation over 2007.-TradeArabia News Service