Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition to assembling cars. Such new operations are aimed at diversifying domestic revenues and reduce oil dependency, noting that in 2013, the value of car sales is expected to reach SR 94 billion.
