We empower our clients through state of the art customized vehicle solutions so they can leverage the most modern technology for succeeding in their field and contribute in improving the manufacturing industry in the kingdom in accordance with the Saudi Vision 2030.
As a result of increasing car sales, Saudi Arabia's automotive spare parts and service market, which stood at roughly $7.6 billion in 2018, is expected to grow at approximately 6% CAGR over the next five years to reach a value of $10.15 billion by 2023, said the report.
Saudi Arabia boasts access to over 400m consumers in the Middle East and North Africa (MENA), a vast region where annual car sales are currently only around 2.3m. Another benefit for companies looking to do business in the area is the Greater Arab Free Trade Agreement (known as Gafta) which permits duty-free access to 17 countries in MENA if local value added is 40% or above.
Mahmut Gazi Bilikozen, Show Director for Messe Frankfurt Middle East, which licences the Automechanika brand to event organisers ACE Group, said: There's an enormous prospect presented to automotive and aftersales companies as female drives are an entirely new customer segment for the KSA market.
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As a direct impact of these challenges, the fleet was underutilized, at any one point 25% of the vehicles were not available for rent with an observed lead time of 25 days for processing a broken-down car from the moment the incident happens to the vehicle being ready to be rented out again.
The biennial trade fair serves as the dedicated automotive aftermarket and services industry trade fair for the country's central and eastern regions and alternates between the Kingdom's capital and the Red Sea port city of Jeddah, with the next event hosted in 2021.
For example, it mentions whether the agent will be only responsible for selling the cars, providing after sale services, buying from the manufacturer and reselling, or selling for the manufacturer and receiving a commission. According to the National Industrial Clusters Development Program (NICDP), the automobile sector is considered to be one of the top five industries to be developed in the Kingdom of Saudi Arabia.
We not only provide good service to customers' consultation and visitation, but also be responsible for the service after sales. The manufacturer's warranty does not cover any defaults or malfunctions in the car or any parts of the car like the engine, if the owner doesn't take the car to service in time, despite knowing that service is due.