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Autozone : Balubaid launches first comprehensive automotive showroom in Kingdom

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01/13/2018 | 06:12pm CET

Autozone-Balubaid officials at the launch of the first comprehensive automotive showroom in Kingdom. — Courtesy photos

JEDDAH — Autozone-Balubaid launched the first automotive showroom solely dedicated to women located inside a shopping mall, a first in the Kingdom. The new showroom located in Jeddah, offers a large selection of cars from the leading brands, six months prior to the start of women’s driving and following the widely acclaimed royal decree allowing women to drive.

Located in Hijaz Mall, north Jeddah, the new showroom offers customers a wide range of automotive brands as well as financing options from the leading banks and financing companies. All this is backed by unbiased sales consultants who are trained to provide their service to women, giving them the chance to examine their options carefully before making the final purchase decision.

Under the aegis of the Secretary General of the Jeddah Chamber of Commerce and Industry (JCCI), Hassan Bin Ibrahim Dahlan, Autozone, launched its third branch in Jeddah and the tenth in the Kingdom. The new showroom is the first among the company’s branches to be located inside a shopping mall, enabling customers to view and compare cars in a familiar shopping environment that caters to all the family needs.

Khalid Balubaid, chairman of the Balubaid Holding Group, indicated that the company has paid close attention to the smallest of details, taking into consideration women’s preferences, which is reflected in the vehicle choice, vehicle colors and specifications, as well as the sales consultants whose aim is to serve our female customers by providing them with unbiased advice so that they can make the best possible decision.

He added, “The new showroom opening is in line with the company’s expansion strategy which aims to reach out to a larger segment of the society while maintaining exceptional service standards and increasing customer satisfaction,” while stressing that Autozone’s main concept is based on providing automotive buyers with a wide variety of car brands and models as well as the best financing options, whether it be on lease basis or on installment basis.

“These services have gained a positive response from customers and the authorized car dealers alike, with whom the company has strong strategic partnerships,” he said.

Balubaid, pointed out that Autozone, employs the most qualified Saudi human resources, opening a new employment field for Saudi women in automotive sales. The company has invested heavily in training its staff to provide exceptional service to its customers, focusing on the usage of technology to facilitate seamless communication. — SG

(c) 2018 2017 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 11 350 M
EBIT 2018 2 147 M
Net income 2018 1 331 M
Debt 2018 4 864 M
Yield 2018 -
P/E ratio 2018 16,14
P/E ratio 2019 14,45
EV / Sales 2018 2,33x
EV / Sales 2019 2,25x
Capitalization 21 552 M
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Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
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Average target price 782 $
Spread / Average Target -0,77%
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William Andrew McKenna Independent Outside Director
Earl G. Graves Lead Independent Outside Director
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