28 Oct 2009
The demand for luxury cars has been increasing in the Kingdom despite the world economic crisis, observed Abdullah Saleh Al-Shamashy executive director of EXCS Exotic Cars Exhibition at the Fours Season Hotel in Riyadh.
Some 70 cars costing SR60 million was showcased at the 3rd Luxury Car Expo opened by Deputy Transport Minister Abdullah bin Abdul Rahman Al-Muqbel.
Speaking to newsmen, Al-Shamashy recalled that during the first show SR20 million was netted and at the next show the amount was SR37 million. “This amply demonstrates the increase of sales of the luxury cars in the Kingdom because Saudi Arabia maintains an economy which has withstood the global economic problem. We hope to sell even more vehicles this time,” he said, adding that the show will remain open on Thursday.
He said that the Kingdom, the largest automobile market in the Middle East, enjoys 50 percent of the total market in the region. He pointed out that some of the exhibits were being displayed in the show for the first time in the Middle East and in Asia. “The vehicles are strong, fast, modern and people can travel in comfort,” Shamashy said.
Olaf Sewald, sales director of Wiesmann, said that his company sold nine vehicles from his Premium Collections Group but during the year 2010, the company has targeted 15 vehicles for sales in the Kingdom.
The Italian car, Pagani, was priced at 1 million euros and the designer, Horaco Pagani, said that he produced only 20 cars a year. “We are happy that we are entering a market which is famous for the sale of luxury cars.” He noted that every Pagani manufactured by him was different from the other and that all were handcrafted.
Mamdouh Khayyat, managing director of Fast and Auto Technic, the agent for Ferrari said that the car market had picked up lately and car dealers were hopeful that they would do a better business in the future.
Mark Muhlhausen, general manager Geometrical Integration for Rolls-Royce Motor Cars Limited, said that the Saudi market was one of the best at the moment as there had been an unexpected demand for luxury cars in the country.
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