With Saudi Arabia planning to start manufacturing automobile parts next year in addition to assembling cars, the value of car sales in the kingdom will reach SR94 billion ($25 billion) in 2013, said organisers of an upcoming motor show in Riyadh.
The Riyadh Motor Show 2012, the 29th international exhibition for motor vehicles, will run from November 17 to 22 at the Riyadh Exhibition Center.
The 2012 edition of the biennial show will feature passenger cars, commercial vehicles, motorcycles, vehicle bodies and parts, accessories and tools, and related financial services such as insurance schemes and loans.
“With plans underway to turn the Kingdom into a regional automotive powerhouse, the Riyadh Motor Show provides an ideal platform for automotive players to discuss current and future opportunities, share the latest technologies and best practices, and forge promising partnerships,” said Kamil Al Jawhari, project manager - Riyadh Motor Show at Riyadh Exhibitions Company (REC).
“The government’s strong support provides a crucial motivation for the sector to expedite growth and reinforce local business strategies. This event provides momentum for the automotive industry’s expansion drive.”
In 2011 alone, the kingdom announced the sale of approximately 800,000 cars potentially increasing to one million vehicles per year by 2020, he added.
Today, Saudi Arabia stands as a leading automotive market with firm restrictions on the age of imported vehicles, a rapid population growth, an increasing per capita spending power, and a robust economy – currently the largest in the Gulf, Jawhari noted.
In 2010, the Riyadh Motor Show witnessed a record participation rate with over 96,000 visitors. This year’s edition will cover around 20,000 sq m of prime exhibition space to represent the largest gathering of automotive professionals and consumers the region has ever brought together under one roof.
Riyadh Motor Show 2012 will be running concurrently with Saudi Autoshop 2012 - the 15th international exhibition for auto repair, equipment, tools, parts and accessories - exhibiting the latest automotive accessories and spare parts in a one-stop-shop event.