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Priority Automobile Co. and
Audi Kuwait represented by Fouad Alghanim &
Sons Automotive Co. signed an exclusive rental
and lease contract worth 4.7 million Kuwaiti
Dinars on Wednesday. The deal, which covers
360 Audi vehicles that will be distributed
over the course of one year, includes the Audi
TT, A4, A6, A8 and Q7 models. The official
signing of the contract took place at a
ceremony held at the Audi showroom in Shuwaikh
and sets the sign for the strong partnership
between the two companies. James R. M. du
Lieu, Managing Director of Fouad Alghanim &
Sons Automotive Co. commented "Through
Priority, we have identified a strong business
partner with an equally determined vision of
growth for both of our brands. Together, we
will undoubtedly make a big bang for Audi in
the State of Kuwait within the rental and
leasing market".
Already in December 2006 Priority had signed
their first deal with Audi for 30 Audi A6
vehicles, which were leased within a
three-week period, and further orders were
placed due to the exceptional popularity among
customers. Priority Chairman Ahmed Al Loughani
expressed the importance of the strategic
joint venture “With Audi Priority can further
extend its commitment to providing premium
service in the highly competitive lease car
market".
Cooperations with
successful partners like Priority contributed
to a great extent to the growing popularity of
the Audi brand in Kuwait. "Audi's growth has
almost tripled since Fouad Alghanim & Sons
Automotive Co. took over the brand in March
2004". du Lieu
remarked. In the benchmarked premium segment
Audi's market share in Kuwait is currently
around 14 percent and the brand is aiming for
a target of 23 percent in the medium term, he
added.
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