20 November 2009
The boost comes in view of the country’s growing population and a positive economic growth forecast.
Riyadh Motor Show 2009 and Saudi Autoshop 2009, two of the biggest auto industry events in the Middle East, which will be held on December 12-16 at the Riyadh Exhibitions Centre, is poised to open new gateways for regional and international investors to capitalise on the kingdom’s rapidly growing auto market.
Riyadh Exhibitions Company, orREC, organiser of the two upcoming events, said automotive sales in Saudi Arabia is 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.
Kamil Al Jawhari, project manager of Riyadh Motor Show at Riyadh Exhibitions Company, said: “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. 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.”
“All the elements are in place to make Saudi Arabia a highly attractive business and investment destination in the automotive industry,” Kamil Al Jawhari added.
