JEDDAH, 29 March 2005 — SAMACO Group, Saudi Arabia’s Audi agent, has set up a new financial company with a credit policy to facilitate the purchase of new cars.
“With our increasing sales turnover in the past year and new credit policy, we hope to improve our performance in various segments by 35 percent during the current year,” Group Assistant Vice President Mohammed Raffa told a press conference alongside the launch of Audi’s new A4 cars at its showroom on Madinah Road here yesterday. Nassir Simsim, executive manager of the group, heads the new financial company.
The group increased its turnover by 40 percent last year, especially of Audi cars in the luxury segment,” he said. The group recently opened its new service center in Riyadh, on Takhasosi Street and is currently working on a similar project in Alkhobar which will be established within 18 months. “The $2 million Riyadh center can take care of 25 cars at a time,” he added.
Describing the new A4 as a new product, Raffa said Audi has been doing exceptionally well in Europe — notably in Switzerland, Germany, Italy and Spain. “Across Saudi Arabia and the rest of the Middle East, Audi is ahead of its main competitors like Mercedes Benz and BMW,” he said, adding that the future is bright for Audi.
“The new Audi A4 has the power to stand apart, with a sporting prowess,” said Salah Yamout, Audi’s national sales and marketing manager of Saudi Arabian Marketing & Agencies Company Ltd.