Mohamed Yousuf Naghi Motors (MYNM), the sole dealer of Rolls-Royce Motor Cars in the Saudi Arabia, has announced record sales in the Kingdom for the ultra-luxury vehicle in the first quarter of 2011, with a growth of 131 percent compared to the same period in 2011. The sales figures, the highest in the entire region, highlight the increasing strength of the ultra-luxury car market in the Kingdom and the trust customers have in the world's pinnacle automotive brand.
The impressive sales results come as a natural progression for Mohamed Yousuf Naghi Motors, which has seen steady growth over the past few years in its Rolls-Royce sales. The company's focus on customer satisfaction and targeted marketing activities runs in line with Rolls-Royce Motor Cars' pursuit of excellence and quality through every aspect of the brand.
"We are delighted that our efforts have paid off and allowed us to take the leading position in Rolls-Royce sales in the entire region for the first quarter of 2012," said Toni Yazbeck, brand manager for Rolls-Royce Motor Cars at MYNM. "As the sole dealers of Rolls-Royce Motor Cars in the Kingdom, Mohamed Yousuf Naghi Motors has invested heavily in state-of-the-art showrooms and service facilities to ensure premium standard of service offered to our discerning Rolls-Royce customers."
"The growth reflects the increased appetite for individuality and exclusivity in the ultra-luxury segment here in the Kingdom, and a prime indicator of this is the large number of customers who have come to our showrooms to book order for the new Phantom Series II, which was recently launched at the Geneva Motor Show," he added.
The Phantom Series II family of cars, including Phantom Saloon, Phantom Drophead Coupé and Phantom Coupé, has been thoughtfully updated with contemporary yet timeless design enhancements that frame the introduction of cutting-edge technologies, which significantly improve the car's drive train, ease-of-use, and connectivity.
Kingdom posts highest Rolls-Royce sales in Middle East in Q1
Kingdom posts highest Rolls-Royce sales in Middle East in Q1
Saudi minister at Davos urges collaboration on minerals
- The reason of the tension of geopolitics is actually the criticality of the minerals
LONDON: Countries need to collaborate on mining and resources to help avoid geopolitical tensions, Saudi Arabia’s minister of industry and mineral resources told the World Economic Forum on Tuesday.
“The reason of the tension of geopolitics is actually the criticality of the minerals, the concentration in different areas of the world,” Bandar Alkhorayef told a panel discussion on the geopolitics of materials.
“The rational thing to do is to collaborate, and that’s what we are doing,” he added. “We are creating a platform of collaboration in Saudi Arabia.”
The Kingdom last week hosted the Future Minerals Forum in Riyadh. Alkhorayef said the platform was launched by the government in 2022 as a contribution to the global community. “It’s very important to have a global movement, and that’s why we launched the Future Minerals Forum,” he said. “It is the most important platform of global mining leaders.”
The Kingdom has made mining one of the key pillars of its economy, rapidly expanding the sector under the Vision 2030 reform program with an eye on diversification. Saudi Arabia has an estimated $2.5 trillion in mineral wealth and the ramping up of extraction comes at a time of intense global competition for resources to drive technological development in areas like AI and renewables.
“We realized that unlocking the value that we have in our natural resources, of the different minerals that we have, will definitely help our economy to grow to diversify,” Alkhorayef said. The Kingdom has worked to reduce the timelines required to set up mines while also protecting local communities, he added. Obtaining mining permits in Saudi Arabia has been reduced to just 30 to 90 days compared to the many years required in other countries, Alkhorayef said.
“We learned very, very early that permitting is a bottleneck in the system,” he added. “We all know, and we have to be very, very frank about this, that mining doesn’t have a good reputation globally.
“We are trying to change this and cutting down the licensing process doesn’t only solve it. You need also to show the communities the impact of the mining on their lives.”
Saudi Arabia’s new mining investment laws have placed great emphasis on the development of society and local communities, along with protecting the environment and incorporating new technologies, Alkhorayef said. “We want to build the future mines; we don’t want to build old mines.”
