04 June 2008
RIYADH – About 30 percent of Maserati sport cars are owned by women in Saudi Arabia, Engineer Mamdouh Khayyat, Director General of the company’s Agent in The Kingdom said.
He said the demand ratio of this brand and Ferrari has largely increased in recent years in Saudi Arabia. In 2006, the ratio was 22 percent and this was increased to 38 percent. The demand is expected to reach 60 percent this year according to feasibility studies, Al-Hayat said on Tuesday.
Khayyat said a standard Ferrari costs between SR980,000, and SR1.55 million. A used Ferrari loses 15 percent of its original value per year, he added.
He said there is a long list of potential buyers of this brand. The waiting period may go up to two years due to low production and high demand. The Kingdom receives 2 percent of Ferrari’s production ranking second after Dubai.
Khayyat urged Saudi banks to lend money to the people seeking to buy luxury cars.
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