RIYADH, 24 December 2003 — Kingdom Holding Company Chairman Prince Alwaleed ibn Talal met with Volkswagen Motors Chief Executive Officer Pritsches Reider in Riyadh recently and discussed the car manufacturer’s current and future strategies.
Reider gave an overview of Volkswagen and explained the company’s future goals, which include expanding its product line and increasing its market share in the world. “Volkswagen is one of the world’s largest producers of passenger cars and Europe’s largest automaker,” Reider said. Its automobiles include Audi, Bentley, Lamborghini, Bugatti, Rolls-Royce, Seat, and Skoda.
Reider also discussed the significance of the company’s market share in the Kingdom and elsewhere in the Middle East. “Volkswagen’s share has experienced a marked growth, especially of Porsche and other sport luxury cars.” Reider also briefed Prince Alwaleed on the strategies adopted in the distribution of its products in the Middle East. Prince Alwaleed thanked Reider for his visit and giving him a clear overview of Volkswagen and its current and future market strategies. Praising the success of Volkswagen, Prince Alwaleed said: “With its continuous development strategies, Volkswagen will have no problem in retaining its leadership in its field for many years to come.”