Chongqing - "Changan, undoubtedly one of the fastest-growing brands in the Middle East, has witnessed remarkable success and achieved unprecedented growth over the last five years," said Yasser Farouk Shaheen, managing director of Changan of Almajdouie Motors Company, during an exclusive interview with iChongqing and Bridging News at the Chongqing International Auto Exhibition in the Chongqing International Expo Center on June 9.
"In Saudi Arabia, our growth between 2018 and today has accumulated and surpassed an astounding 700%," Yasser added. As a significant contributor to the Middle East market, Changan takes pride in being one of the largest global partners, accounting for nearly 35% of Changan's global sales. This accomplishment firmly establishes Changan as the leading brand worldwide.
Yasser emphasized that customer satisfaction has always been a top priority for Changan, extending to after-sales service, spare parts availability, and the quality of technical support.
Yasser Farouk Shaheen, managing director of Changan of Almajdouie Motors Company. (Photo/Kenny Dong)
Tailoring their products to the Middle East market
"While the international market poses significant competition, Changan's long-term vision necessitates expansion into overseas markets," said Yasser. Changan aims to become the leading Chinese manufacturer in Saudi Arabia, capturing the largest market share throughout the Middle East region.
Over the past five years, Changan has overcome challenges regarding Chinese product quality and reliability through research and development, tailoring its products to meet the requirements and road conditions of the Middle East market.
Their remarkable market share growth increased from 0% to 6% in Saudi Arabia within a few years.
Changan Automobile has established 450 sales channels in 63 countries overseas, with over 90% of its sales originating from markets along the Belt and Road, including the Asia-Pacific, Central and South America, and the Middle East.
"Changan's participation in the Belt and Road Initiative marks another significant milestone," said Yasser. With 70% of the global population and 50% of the worldwide GDP contributing to this initiative, the Middle East has played a crucial role in its success.
"By revitalizing the historical Silk Road, this initiative fosters cultural exchange and facilitates increased capital inflow, offering vast opportunities for growth and cooperation," said Yasser. "We are delighted to participate and receive support for this initiative, as it promotes cultural exchange and establishes a unified framework that boosts capital inflows."
A robust global research and development network
Changan Automobile has established a robust global research and development network to address the diverse needs of overseas markets, considering cultural, climatic, and lifestyle differences.
With 16 technical and product research centers and over 17,000 professionals across 30 international engineering teams, the company is well-equipped to provide targeted research and development services for the globalized market. Changan Automobile aims to adopt a "global product synchronized development" strategy combined with "region-specific differentiation."
This approach involves developing multiple versions of the same car model, such as Chinese, American, and European editions, tailored to specific regional requirements. Traditional vehicles will continue to dominate in South America and the Middle East, while new energy models will be promoted in Europe and the ASEAN region.
Pickup trucks will be introduced in South America, the ASEAN region, Australia, and New Zealand. Additionally, Changan Automobile is committed to creating "iconic global models" and aims to produce products with global sales exceeding 500,000 units each by 2030.
Changan Automobile presents a variety of models at the Chongqing International Auto Exhibition. (Photo/Kenny Dong)
Saudi Foreign Minister Faisal bin Farhan Al Saud said that the 10th Arab-China Business Conference, which was held on June 11 in the Saudi capital of Riyadh, is an opportunity to consolidate the historical Arab-China friendship, build a shared future that will benefit both sides and promote peace and development in the world, according to CGTN.
China is the largest trading partner of Arab countries, and the volume of trade exchange between the two sides reached $430 billion in 2022, a 31-percent increase from 2021, he said.
Saudi-China trade, which makes up about 25 percent of the total volume of trade exchange between China and Arab countries, reached $106.1 billion in 2022, a 30-percent rise from 2021.