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Article: Car market is expected to recover in 4th quarter.
- Article from:
- Arab News (Jeddah, Saudi Arabia)
- Article date:
- April 22, 2009
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Byline: K.S. Ramkumar
JEDDAH: The world economic crisis has impacted Saudi Arabia's car market to the extent that sales are down by 20 to 25 percent across the board, according to a market leader. "However, the market is expected to recover in the last quarter of the year as 2010 models start coming in," Ali H. Alireza, managing director of Haji Husein Alireza & Co. Ltd. (HHA), said at a media roundtable at the HHA head office in downtown yesterday.
Alireza, who is in the automobile industry for 22 years and a member of the Saudi Automobile Dealers Committee, said there was no doubt that there was a general market slowdown, so it was wrong to presume ...