Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
CLASS

Maserati to grow in the South-east Asian area by opening in Cambodia

December 15, 2020


Abstract : Maserati has signed an agreement with HGB Group, an operator with a strong presence in the automotive market since 2010.

MILAN, Dec 11 (Class Editori) – Maserati is growing in the region of Southeast Asia by entering in Cambodia, where the automotive group from Modena will be represented by HGB Group, an operator with a strong presence in the automotive market since 2010, which will deal with the distribution of all the cars of the company from Modena.

Today, the showroom has been presented by Oknha Ngov Leang Houth- HGB Group president- and it is located in the Phnom Penh capital. During the day, the CCO of the group- Bernard Loire- has expressed his opinion about the new operation, by saying: “Maserati is starting a new period of strong changes addressed to the brand’s reinforcement and the development of new vehicles, innovations and revolutionary projects. We are strongly future-oriented also with hybrid and electric models”.

Luca Delfino- responsible of the company for the Asia-Pacific region- has underlined how the country is representing “a promising market for the brand expansion in this Asian area and an opportunity of collaboration with HGB Group in order to strengthen the role of Maserati as key player in the luxury automotive market”. In the 2017-20 period, the automotive premium market in Cambodia has grown by 14% on average.

The showroom of HGB Group is located in the most prestigious and elegant area of the Cambodian capital and it will welcome Maserati customers in an extremely elegant and exclusive location. Besides the showroom, on a surface of 610 square meters, which will host all the Maserati-branded models, there will be also a mechanic’s shop of 1,760 square meters with three working areas.

“Choosing the right partner and offering extraordinary products is an asset to be successful in a region”, as Loire has recalled. Delfino has underlined that the brand from Modena, which is owned by the FCA group, has different partners in Singapore, Malaysia, Thailand, Vietnam and Indonesia. “Everybody driving a Maserati cannot but instinctively appreciate its engine power, performances and beauty, symbol of the Italian excellence. We bring to Cambodia a prestigious range of cars, which will amaze customers, who will particularly love them”.

Cambodia, about half as big as Italy, with a population of 15 million citizens, is growing really much, also thanks to its relationships with China. Between 2014 and 2018, GDP grew by 7% y-o-y on average and analysts expect that the rate will be standing around 6% until 2024. The main industries (textile, agriculture, tourism, gambling and real-estate) have attracted foreign direct investments accounting for 2.2 billion dollars in 2016 (average annual growth at +12% in the 2014-2016 period), with an expected increase up to 6 billion dollars within 2024.

Moreover, the rate of Cambodians with a net worth of over 30 million dollars has increased by 170% in the last decade and a further increase by 56% is expected in the next one. (All rights reserved)

(Source:Class Editori)

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: Maserati

Reading:

China Focus: Italian companies explore opportunities at China's industry fair

Italian National Pavilion opens at Shanghai's global industry fair

SILK EV to produce the Chinese (electric) supercar

E-commerce and smart marketing to relaunch the Chinese business

Shanghai, the Italian Design Icons success that looks to the City of the future

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial