Global Auto, the new importer and agent of BMW and Mini Cooper in Egypt, plans to invest over 1 billion Egyptian pounds ($40.6 million) in the market in the next few years, its chairman on Tuesday.
“Egypt’s rapidly growing automotive market offers a huge opportunity for investment, and we are confident that we will grow the BMW and MINI to greater heights, hence strengthening the luxury brands’ positions in Egypt’s premium automotive market.” Fahad Alghanim, Chairman of Global Auto Group, said in a statement.
“In the next few years, Global Auto will also invest over 1 billion Egyptian Pounds, creating 2000 new jobs, to offer our customers a state-of-the-art retail and service experience that goes beyond their expectations.”
Global Auto is a joint venture between Kuwait’s Ali Alghanim & Sons Automotive, Saudi Arabia’s Mohamed Yousuf Naghi Motors, and Egyptian firms Organi Group and Al Safi Group. It has also acquired Bavarian Auto Group (BAG), the former importer of both brands.
With over three decades of experience serving the premium car market in Kuwait and Iraq as a BMW importer, Ali Alghanim & Sons Automotive has established an excellent reputation in the region. Mohamed Yousuf Naghi Motors is the exclusive BMW, MINI, and Rolls-Royce importer in Saudi Arabia for over two decades, and it has a stellar track record of sales and aftersales services.
“Both veteran entities, in collaboration with the two large Egyptian groups, are confident of replicating the sales success they have reached in Kuwait, KSA, and Iraq by offering the highest quality premium products and aftersales services, while maintaining strong customer satisfaction.” a statement by Global Auto read.
“Catering to the growing demand for BMW and MINI in one of Africa’s fastest-growing economies, Global Auto has an ambitious plan for expanding its presence in the Egyptian market.
Global Auto’s plan includes refurbishing the existing showrooms and service centres of the two premium brands, along with opening new showrooms and service centres across the country, especially in new urban cities, while adopting the new global BMW Group corporate identity (BMW Retail Next).
“Global Auto also shares BMW Group’s commitment to sustainability, focusing primarily on conserving natural resources. To achieve this goal, Global Auto will introduce BMW i all-electric cars in the Egyptian market, along with using electricity generated from solar energy and water recycling methods in its new showrooms—all in line with BMW Group’s ultimate goal of becoming a fully sustainable company and aligned with Egypt’s Vision 2030 and its sustainable development plans.”
Mohamed Kandeel, CEO of Global Auto Group, said: “For the first time in Egypt, Global Auto will offer an industry-leading 3-year or 60,000 km (whichever comes first) Service Inclusive package and a 5-year or 200,000 km (whichever comes first) warranty for all BMW and MINI cars—whether imported or locally assembled—including special-order models as well,”