Saudi banks offer exclusive finance options for Chery automobiles in Saudi Arabia

Sanabel Modern Motors enhances its corporate presence via expanding customer base - Exclusive finance options that encourage clients to purchase TIGGO Pro series.

Jeddah, KSA, Sept. 2021: 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. 

About Chery
Chery is an automobile brand based in China with global influence. In addition to five R&D bases worldwide, it has the most potent core technology research and development strength in engines, gearboxes, and chassis among all Chinese automobile brands. It has a global automobile research and development team of more than 5,500 team members. Meanwhile, Chery is also the first auto company in China to export complete vehicles, CKD parts, engines, and comprehensive vehicle manufacturing technologies and equipment to the world. Up to now, Chery has exported its products to more than 80 countries and regions, with 9.5 million users worldwide, ranking first in China's passenger car exports for 18 consecutive years.

About Sanabel Modern Motors:
Sanabel Modern Motors is a Mohamed Youssef Naghi company. MYN is active in six main sectors: automobiles, transportation, consumer goods, logistics, pharmaceuticals, and electrical appliances. The company is based on long experiences in car distribution and maintenance, which it has accumulated through years of continuous service to various and different categories of customers in the Kingdom of Saudi Arabia. As a result, it is considered one of the largest companies operating in the automotive sector in the Kingdom. In addition, it has a rich history in innovative marketing, developing sales strategies, and providing after-sales services, which provides a reasonable justification for its leading reputation as one of the most prominent Saudi brands.