Ford Middle East has announced the successful completion of a buy-sell agreement between its two Saudi distributors, Mohamed Yousuf Naghi Motors Co. (MYNM) and Al-Jazirah Vehicles Agencies Co. (AJVA), where both distributors will serve Ford and Lincoln customers in their specific regions.
Through this agreement, MYNM now officially represents the Ford and Lincoln brands in the western and southern regions, and AJVA continues its representation for both brands in the central, eastern and northern regions.
The realignment of territories comes nearly a year after the appointment of MYNM as a second Ford distributor in the Kingdom, and is expected to allow each distributor to focus on their customers in their respective territories while continuously building on ownership experiences, according to Randy Krieger, president of Direct Markets at Ford Motor Company’s newly established International Markets Group.
“I’d like to congratulate both the Naghi and Al-Kraidees families on the successful completion of this buy-sell agreement,” said Krieger. “Saudi Arabia is very important to us, and we trust this agreement will contribute to growing the local representation of the Ford and Lincoln brands, while breathing more energy into the way we serve our customers.”
Sheikh Mohamed Yousuf Naghi, chairman of Mohamed Yousuf Naghi Motors Co, said: “We’re excited to be expanding our representation of Ford and Lincoln in the Kingdom, and we’re pleased to be able to bring our experience to both brands and deliver our services across the cities we will cover moving forward.”
Sheikh Abdullah bin Fahad Al-Kraidees, AJVA’s president, said: “We’ve been serving Ford and Lincoln customers in Saudi Arabia for more than 30 years and we’re looking forward to continuing this legacy and further build as we deliver the support that our customers have always expected from Al-Jazirah Vehicles Agencies.”
Mark Ovenden, president of Ford Motor Company’s International Markets Group, said: “Today we mark a new era for Ford in Saudi Arabia where we formalize territories between our distributors Mohamed Yousuf Naghi Motors Co. and Al-Jazirah Vehicles Agencies Co.
“Both the Naghi and Al-Kraidees families are renowned and prominent automotive businesses in Saudi Arabia with great history,” Ovenden added. “I personally want to recognize the leadership and guidance of both Sheikh Mohamed Naghi and Sheikh Abdullah Al-Kraidees for their commitment to the Ford and Lincoln business in the Kingdom, and look forward to seeing the brands, and partnership, develop further.”
Ford Motor Company is a global company based in Dearborn, Michigan.
Its history in the Middle East goes back more than 60 years. The company’s local importer-dealers operate more than 155 facilities in the region and directly employ more than 7,000 people, the majority of whom are Arab nationals.