Automotive parts supplier Bosch, recorded a growth of more than 20 percent in the automotive aftermarket in the Middle East, significantly higher than the global growth of automotive aftermarket in the region.
“The strong growth in the region was driven by strategic moves adopted by Bosch to consolidate its presence in the automotive aftermarket,” said Bosch’s General Manager for Sales Middle East and Africa, Volker Bischoff. “Helped by our network of dealers and partners, we managed to considerably increase the market share and launch new projects. Our long term targets are to achieve a growth of four percent per annum on average and maintain a fair increase in profitability.”
Outlining the future growth strategies, Bischoff said a new Bosch branch was due to be opened in Riyadh in June 2003. The new branch in Dammam will be enhanced with a car service center later this year, and new Bosch facilities are already under construction in Kuwait and Bahrain.
The German-based Bosch Group is the world’s second largest supplier of automotive equipment. The Bosch Automotive Aftermarket business division (Bosch AA) deals with the global supply of replacement parts and information for Bosch products and systems, the distribution of shop and auto accessories, and worldwide customer service.
Bosch Automotive has been operating in the Middle East for almost 40 years. Since then, the automotive after sales business has maintained a significant presence in Middle East markets. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
