Zahid Tractor & Heavy Machinery Company Limited, one of Saudi Arabia's leading and reputable business enterprises, is shutting down its car dealership business. Until now Zahid Tractor is the exclusive distributor of Volvo, Renault and SsangYong Motor Company cars in the Kingdom. The decision to terminate its passenger car business is part of Zahid Tractor's overall strategic plan to sharpen focus on its high growth core businesses. Company officials ruled out any relation to the crisis that affects the global car manufacturing industry at present. Zahid Tractor will remain the exclusive distributor in Saudi Arabia of Volvo and Renault trucks and buses. As part of this new strategy, Waleed Y. Zahid, president and CEO of Zahid Tractor, said in a statement on Saturday, that Zahid Tractor “will end its passenger car franchise agreements with Renault cars, Volvo cars and SsangYong Motor Company,” adding that “Zahid has informed each company of its decision and will work closely with the manufacturers to facilitate a smooth and amicable transfer of the franchises to new distributors.” Zahid stressed that “our decision was not easy as Renault, Volvo and SsangYong have been excellent partners, with world class products, and Zahid Tractor has been privileged to work with them for many years.” Zahid made it clear though that the company's showrooms and after-sales facilities will remain open for business, offering customers high quality vehicles at great value, as well as first class service, until such time that new distributors are established. He emphasized that by working closely with the manufacturers and new distributors, Zahid Tractor would ensure that all its valued customers would not be affected adversely by the decision. Zahid said under the new strategy, the company “will reinforce the pace of vertically integrating our business-to-business activities with further upstream and downstream investments.” Eng. Wafaa H. Zawawi, director Administration, Zahid Tractor, elaborating on the decision taken by the company, told the Saudi Gazette that in line with strengthening the company's upstream business, Zahid Tractor has established a new factory for Volvo trucks, among others. On the downstream sector, he added that the company will expand into logistics and transport business under the new strategic plan. Zawawi further said Zahid Tractor has formed a new company named Warid that sells power by kilowatts to shopping malls and big establishments in the Kingdom, as in the case of Aziz Mall and Mall of Arabia, in which Warid sells power utilizing the sound attenuated units or generating power quietly. For over 50 years, and with a fundamental commitment to provide its customers with a carefully selected range of the world's finest equipment, backed by outstanding product support, Zahid Tractor has become a respected name and a market leader in the Kingdom of Saudi Arabia. Zahid Tractor has a network of over 30 facilities that ensures fast and efficient service. The company puts a premium on people, facilities, and the latest technology to guarantee continuous improvement and growth. __
