New-car sales in Saudi Arabia are projected to cross one million units in 2018 in view of rapid trade and economic expansion in the Kingdom, according to a study.
Major projects under way in various regions and several other special factors underpin stable and continued growth in Saudi Arabia, distinguishing it from the neighboring countries, the study said.
Conducted by Specialized Systems for Exhibitions and Conference (EXCS), the study forecast continued rapid growth of the Middle East car market, particularly in the luxury car sector where sales are expected to rise by 15 percent in 2012 compared to 9 percent in 2011.
The findings suggest strong participation by luxury car dealers in the 6th edition of Luxury Motor Show to be held at the Hilton Hotel in Jeddah, Nov. 6-8, 2012. “This year's show will embrace the world's latest, most luxurious and expensive cars, some displayed for the first time in Saudi Arabia,” said Abdullah Alshemasi, director general of EXCS, the show organizer.
The previous five editions of the Luxury Motor Show were hugely successful and higher sales are expected this time around in view of rising demand from expectations of market recovery, he said.
"We expect high-class participation again this year since the show is dedicated to an elite and carefully selected audience seeking the latest and most distinctive products from the automotive world,” Alshemasi said. “For the convenience of the dealers and their discerning clientele, the show will be held in the main hall of the Jeddah Hilton hotel where adequate space will be devoted to displaying the splendor and exclusivity of each luxury car brand,” he said.
Saudia Private Aviation (SPA) is sponsoring the Luxury Motor Show. Confirmed participants include Rolls-Royce, Bentley, Mercedes-Benz, Cadillac, Lexus, Lamborghini, McLaren, BMW, Land Rover, Jaguar, Audi, Aston Martin, Porsche, Centennial, Viewmotion and Moda Car.
Source: Arab News, September 15, 2012