In Libya, the company has begun selling Triangle-brand tires in small quantities, which it will ramp up when it begins selling both Geely passenger cars and Great Wall pickup trucks early in the second quarter. GB Auto is already the exclusive agent for Geely passenger cars in Egypt; Libya is the first country to which it will roll-out its offering of the highly-rated Great Wall pickup trucks, which are products of Great Wall Motors, China's leading producer of SUVs.
GB Auto is entering the Libyan market in cooperation with El-Bostan El-Zahbya Group, a well- established consumer goods, retail and logistics conglomerate owned by the El-Saed family.
The company is targeting sales of approximately 3,000 Geely passenger cars in its first year of operations in Libya, with a target of a c.10% market share within three to five years. In the pickup truck sector, management is targeting sales of 2,000 units in year one.
GB Auto has identified a cost-effective strategy to rapidly roll-out sales and aftersales facilities in both Tripoli and Benghazi.
"We're excited to gain a foothold in the exciting Libyan market, which has exceptional growth prospects and an under-motorized population. Although Libya has no experience with Chinese passenger car brands, our early experience in Egypt - coupled with the enviable reputation Great Wall has earned in Libya during its short tenure there - leads us to expect consumer acceptance to be swift," said ElMostafa AbdulHalim, GB Auto's Regional Chief Operating Officer.
(Source: GB Auto)