Naif Mohammed Ahmed Al-Theeb

How is the company’s client portfolio currently structured, and which specific units are driving the growth of the company?

The client portfolio of Theeb Rent-A-Car is currently structured across three main segments: rental, lease, and sales. Rental constitutes the largest portion, accounting for approximately 50% of the company’s revenue. This segment involves short-term car rentals, catering to individuals and businesses with temporary transportation needs. The lease segment contributes around 30% of the company’s revenue. This sector focuses on long-term leasing solutions, providing corporate clients with customized fleet management services for extended periods. Sales make up approximately 20% of Theeb Rent-A-Car’s revenue. This segment involves the sale of vehicles from the company’s fleet, allowing customers to purchase cars directly from the company. While all three segments contribute to the company’s revenue, the rental unit currently drives the growth of Theeb Rent-A-Car. With a substantial fleet and a strong customer base, the rental segment benefits from the high demand for short-term car rentals in Saudi Arabia, including tourism, business travel, and local transportation needs. The company’s focus on providing excellent rental services, expanding its fleet, and enhancing customer satisfaction has positioned it as a key player in the market, driving its growth in the rental segment.

How would you describe the current state of the car rental market in Saudi Arabia?

The current state of the car rental market in Saudi Arabia can be described as robust and promising. The market size is substantial, indicating a high demand for car rental services. Several key players in the industry hold significant market shares, with each having approximately 10% of the overall market. The Saudi Arabian car rental market offers significant opportunities for growth. Factors such as increased tourism, business travel, and local transportation needs contribute to the market’s expansion potential. As the country continues to develop and attract more visitors and businesses, the demand for car rentals is likely to increase further. Overall, the car rental market in Saudi Arabia is characterized by its substantial size, presence of key players, and high growth opportunities. With the country’s continued focus on tourism and economic diversification, the market is expected to experience further expansion in the coming years.