Saudi auto sales to hit $21bn by 2014
Riyadh, July 12, 2010
Saudi Arabia's automotive sales value is expected to reach over SR80.6 billion ($21.5 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.
The Riyadh Motor Show and Saudi Autoshop will be concurrently held from December 5 to 9, at the Riyadh International Convention & Exhibition Centre.
'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,' stated Kamil Al Jawhari, project manager of Riyadh Motor Show at Riyadh Exhibitions Company.
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.-TradeArabia News Service