Business | General
Nissan in joint venture to expand car sales in Mideast
Agreement with Al Dahana will drive automaker's marketing and sales strategy in Saudi Arabia, Abu Dhabi, Kuwait and Bahrain
- Staff Report
- Published: 00:03 October 19, 2008
Dubai: Nissan Motor Co Ltd (NML) and Al Dahana FZCO have announced the establishment of a joint venture company - Nissan Gulf FZCO (NGF).
NGF will be responsible for enhancing Nissan's marketing and sales strategy in Saudi Arabia, Abu Dhabi, Kuwait and Bahrain with the aim of selling 160,000 vehicles a year by 2012.
The four markets together are expected to account for more than 40 per cent of Nissan's sales in the region by 2012.
NGF will also introduce a full-fledged financial services platform by partnering with GAPCorp, a global third-party administrator. The finance and insurance platform will offer a comprehensive range of Nissan branded finance and insurance products throughout the Middle East and North African countries, with products such as extended warranty, roadside assistance, guaranteed auto protection (GAP) insurance and motor insurance. The products on offer will be fully synergised with local market requirements, to promote a one-stop-shop experience for Nissan customers.
"The Middle East is one of the fastest growing auto markets and is a strategic area of focus for the future of Nissan," said Colin Dodge, senior vice-president of Nissan Motor Co Ltd.
"Al Dahana is a strategic partner that will offer sales, marketing and dealer development expertise to sustain our success in key markets of the region," he said.
NGF will step in for Nissan Middle East FZE in Saudi Arabia, Abu Dhabi, Kuwait and Bahrain.
Khalid Al Juffali and Nasser Watar represent Al Dahana's shareholders in NGF as chairman, and vice chairman and managing director, respectively.
"We are excited about the opportunity to be a part of Nissan's business in these four countries," said Al Juffali. "We are confident of our ability to deliver on Nissan's brand promise by bringing our expertise and understanding of the local markets to supercharge Nissan's operations and exceed customers' expectations."
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