Published — Thursday 22 November 2012
Last update 22 November 2012 3:01 am
Building on its impressive performance in the first half of the year, Mohamed Yousuf Naghi Motors (MYNM) is well on track for another successful year-end in Saudi Arabia with a reported 14 percent growth in BMW & MINI sales for the first nine months of the year.
MYNM’s year-to-date results clearly demonstrate the continued growth of the luxury automotive industry in Saudi Arabia, and are a direct result of its exceptional standards across all areas of the business and ongoing investment in the BMW Group brands.
“At Mohamed Yousuf Naghi Motors, we are extremely pleased with our year to date results. Our business continues to grow, which is due to the combination of a strong economic climate, a growing portfolio of desirable premium BMW Group vehicles, and the ongoing commitment and professionalism of our staff,” said Stavros Paraskevaides, MD, MYNM (BMW).
The company’s results during the first nine months of the year were driven by the brand’s flagship model BMW 7 Series as the highest selling model. Offering new levels of luxury, comfort and power, the new and refined 7 Series model went on sale in Saudi Arabia last month. Expected to further amplify BMW’s 7 Series success story in the Middle East, the latest generation is set to be a strong driving force behind MYNM’s future sales achievements.
The BMW X3, BMW 5 and 3 Series witnessed the biggest growth in the Saudi market in the January-September period, with 100 percent, 46 percent and 14 percent growth respectively.
Reaffirming its position as the fastest growing premium brand in the world as well as in Saudi Arabia, MINI, the small car with a big attitude, witnessed a 53 percent sales growth during the first nine months of 2012. Sales were led by the MINI Countryman – the first MINI with four doors and four wheel drive capabilities.
Another area of the business that continues to grow for BMW in Saudi Arabia is BMW Premium Selection, the group’s pre-owned program that offers customers the same peace-of-mind motoring as if they were purchasing a new BMW. Sales of BMW Premium Selection models increased by 7 percent compared to the same period in 2012.