Mohamed Yousuf Naghi (right), Chairman of Mohamed Yousuf Naghi & Brothers Group; and Karl Slym, Managing Director of Tata Motors, shake hands during the signing of agreement on Saturday at Ritz-Carlton Hotel, Riyadh.
Saeed Al Khotani
RIYADH — India’s largest automobile company, Tata Motors Ltd., has appointed Manahil International Transportation and Services Company ( a member of Jeddah-based Mohamed Yousuf Naghi & Brothers Group ) as the exclusive distributor of Tata passenger and commercial vehicles in Saudi Arabia.
The agreement was signed between Sheikh Mohamed Yousuf Naghi, Chairman of Mohamed Yousuf Naghi & Brothers Group, and Karl Slym, Managing Director of Tata Motors, here Saturday at Ritz-Carlton Hotel.
Speaking at the event, Sheikh Naghi said: “We, at Manahil International, are proud to be associated with Tata Motors and sure that its new breed of strong, reliable, stylish, and feature-rich vehicles will further strengthen our company’s growth in Saudi Arabia.”
“Tata Motors, with its diverse range of products, is crafted to deliver the needs and requirements of wide range of consumer vehicles – starting from one ton Super Ace, Eenon pick ups, buses and up to 49 ton Prima World truck range, along with passenger cars, “ he said.
Slym said: “The commercial vehicles we have introduced today are most suitable to the country terrain and customers’ needs for performance and operating economy. This is the first step toward addressing emerging customer needs and we will continue to keep the excitement in the market with a responsive product portfolio and service.”
Speaking to Saudi Gazette, Sheikh Mohamed Naghi said that he, personally, and his group of companies, are very much delighted and honored by achieving this agreement with this world-reputed company, to make its products that suite the Saudi market.
“Tata is a global company and has achieved a lot of success in the world. And you should not forget that Jaguar and Range Rover is part of Tata, the Indian company that has excelled in technology and manufacturing vehicles ether by developing it by itself or by getting through the companies that it has acquired,” he said.
Slym expresed to Saudi Gazette his happiness for signing the agreement and hoped that it will consolidate and expand the company’s presence in the Saudi vehicle market which is already dominated by well established giants like Toyota, Hyundai, Chevrolet, and others.
He noted though that his company is not afraid of competing with the giants. “In the contrary, they should be afraid of us, because we will start taking bigger share of the market by steady expansion. And our partnership, under this agreement, will go beyond vehicle sales, services, and maintenance, to financing activities, business field support groups, and training teams to make our package more attractive to the customers,” he said.
On whether the popular small and very low price Nano cars in the range of $2,000 will land in the Saudi market soon, he said that it too early to say. “We are still working as a team with our partners to decide what is the right passenger car to bring to Saudi Arabia and the pricing, so it’s too early to give more details, “ he added.
Slym further said that Tata Motors’ consolidated revenues reached to $32.5 billion in 2011-12, and ranked among the Fortune 500 companies, employing over 51,000 people from 16 nations.
He said that the company, through its subsidiaries and associate companies, has operations in the UK, South Korea, Thailand, Spain, and South Africa. Among them is Jaguar Land Rover, the business comprising two iconic brands.
Moreover, Slym said Tata also has an industrial joint venture with Fiat in India. “With over 705 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world’s fourth largest truck and bus manufacturer. Its cars, buses, and trucks are being marketed in several countries in Europe, Africa, the Middle East, South and South East Asia, and Latin America.
Tata Motors Ltd. was incorporated on Sept. 1, 1945 in Mumbai to manufacture diesel vehicles for commercial use, among others.