Sanabel Modern Motors, a Mohamed Yousuf Naghi Company, has launched its first interest-free finance offer for Chery automobiles, following its partnership with Chery last March, according to a press release by Sanabel Modern Motors.
Sanabel is planning to utilize the post-covid recovery of the Saudi car finance market to its benefit; by offering financing deals at minimal terms and conditions for Chery’s TIGGO PRO series, including free interest, while excluding customers from down payment and administrative fees. The company is expecting positive sales growth in Saudi Arabia, citing supportive governmental policies, including the Saudi Central Bank’s decision to lower interest rates with the hope of enhancing liquidity; a move that garnered positive growth of the car finance market.
The financing deal serves as a launching pad for building the PRO series brand on behalf of Chery in Saudi Arabia. The largest car exporter in China is on an active expansion charge to set a footprint in every global key market, including Saudi Arabia.
Sanabel Modern Motors’ management expressed his optimism to the results the financing offer will yield for the local automotive scene as it offers premium vehicles at convenient leasing options for a wide array of customers, “effectively enhancing Chery’s consumer base in the Kingdom,” said xxx. “The TIGGO 2 PRO, for instance, with its compact fashionable design and excellent fuel economy, accommodate the consumption patterns and needs of the 18-34 consumer segment”, they added.
The bigger TIGGO 7 and 8 models of the PRO series are included in Chery’s leasing offer, placing the Chinese brand at the forefront of heated competition with other brands of the same category of mid-sized crossover SUVs.
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