RIYADH: German car brand Volkswagen reported a significant increase in sales in Saudi Arabia last year, with female buyers making up about a quarter of customers.
According to a report by Volkswagen Middle East, the company witnessed the largest sales increase in the region, reporting a 28 percent year-on-year growth in new car sales in 2020, despite a challenging year due to the coronavirus pandemic and the ensuing lockdown the Kingdom faced in the first half of 2020.
In addition, the German carmaker reported that one in four Volkswagens sold in the Kingdom were to female customers, which according to Managing Director of Volkswagen Middle East Victor Dalmau is a huge marker of the brand’s success.
“This is the best proof that our brand is strongly appealing to women in the Kingdom as an increasing number are enjoying our products,” he said in a post on LinkedIn. “These strong results are reassuring that we are on the right track in Saudi. And there’s much more to come.”
SAMACO Automotive, the exclusive distributor for Volkswagen cars in the Kingdom, attributed the increase mainly to high demand for the Volkswagen Teramont. Sales for the model reached 46 percent of Volkswagen’s total car sales in the market.
The Volkswagen Tiguan ranked second place in sales, while the brand was also the car of choice for 56 percent of female buyers, with 26 percent opting for Volkswagen’s sedan model, the Passat.
Mohamed Mousa, director of Volkswagen at SAMACO Automotive, praised the Kingdom’s efforts in managing the pandemic and the support provided to the private sector.
Mousa also outlined the company’s plans for 2021, most notable of which was the introduction of new models to the market, as well as the establishment of a new service center.
“We are preparing to launch four new exciting models to the market; the world-famous Volkswagen Golf GTI VIII, global-leading SUV the Volkswagen Tiguan, the brand’s first seven-seater Teramont will get a facelift, as well as introducing the all-new Volkswagen T-Roc model. Furthermore, we will upgrade and add to our facilities, including the development of new after-sales service centers and a new service center that will open in Al-Madinah Al-Munawara region,” he said.
Volkswagen proves popular with Saudi female drivers
https://arab.news/pptwa
Volkswagen proves popular with Saudi female drivers
- The German carmaker reported that one in four Volkswagens sold in the Kingdom were to female customers
- According to a report by Volkswagen Middle East, the company witnessed the largest sales increase in the region
Closing Bell: Saudi main index rises to 10,894
RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday.
The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining.
The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29.
The MSCI Tadawul Index edged up 1.71 percent to 1,460.89.
The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75.
Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60.
Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48.
On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog.
In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026.
Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years.
The three contracts have durations of 10 years, 10 years, and five years, respectively.
“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement.
Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70.
Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk.
In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC.
In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025.
The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.
