CAIRO: Mitsubishi Motors Corporation (MMC) signed a new distributor deal with Diamond Motors at a ceremony to mark their recent partnership on Wednesday. “Realizing the need to cope with the growing and evolving Egyptian automotive market, Mitsubishi Motors decided to appoint a new distributor in Egypt in a non-exclusive distributor deal,” said Ryuichi Hasuo, MMC's corporate general manager for Europe and Middle East/Africa. The agreement with Diamond Motors is a joint venture with three major companies: Al Mulla Group, Al Kharafi Group and Smart Car. Ibrahim Saleh, board member of Diamond Motors, pledged to customers a new and distinctive Mitsubishi Motors in the Egyptian market, with the brand taking on a new form with a vision and philosophy based on the latest international management methods. The new contract will set up a network of integrated service centers (sales, maintenance and spare parts) with up to $100 million investment over the next three years. The first year will be allocated $65 million. The service centers will be established in different governorates throughout Egypt in Abu Rawash, east of Cairo, South and North Sinai, Alexandria, and Delta as well as Upper Egypt. “MMC also seeks further proliferation and expansion through efficient distributors who have built-up a well-deserved reputation providing excellent services to their customers,” Hasuo commented. Saleh added that customers will be high on the list of priorities to win the confidence and satisfaction of its consumers “We have developed an ambitious plan and a comprehensive vision aimed at creating a new, distinct image for Mitsubishi, to achieve an ongoing growth of its share of the Egyptian market,” said Saleh. “With this new deal, we want to offer better services to our customer base in Egypt as well as expand to better serve their needs,” reiterated Hasuo. With only one day experience in the Egyptian market, but almost 70 years in the automotive industry and MMC distributor in Kuwait since 1972, Al Mulla Group is convinced it will be able to raise the standards. “With synergy, we will be able to raise the standards and will spare no expense for the ownership experience of our customers in Egypt as we have done in the past,” said Talal Al Mulla, director of trading and manufacturing at Al Mulla Group. MMC has achieved sustainable growth in the Egyptian market as one of its main tasks in an effort to attain its sales target of 5-8 percent of total market share. The company also hopes to achieve its sales target of more than 8,000 units in its first year and to exceed 20,000 units in the near future. Creating value for all stakeholders has also been established as a main goal, added Saleh. Selection for the partnership was based on the considerable experience and long history the groups have in the automotive and investment industries in Egypt and the Arab region. MMC has been in the Egyptian automotive market since 1983. Diamond Motors has a track record in Egypt's automotive industry as well as the Arab world in addition to being devoted to employing 100 percent Egyptians in its labor force that will amount to 500 workers and employees (as well as indirect employment). Al Kharafi Group is an Egyptian joint stock company with a total investment of over $6 billion and is expected to exceed $7 billion by the end of 2011. Smart Car has 20 years of experience in the market. |
