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AutoWorld

Tariq Khshhal

Chief Executive Officer

+7,500

AutoWorld increased its fleet size from 2,500 to over 10,000 between 2010 and 2018.

AutoWorld

AutoWorld is a wholly-owned SEDCO Holding subsidiary and one of the pioneers in the field of operational lease and car maintenance in Saudi Arabia. The company operates nationwide and is one of the Kingdom’s fastest growing companies in cars operational leasing. The company also owns high-tech service and repair workshops equipped with high-tech and fast service stations throughout the Kingdom.

 

In mid-2019, AutoWorld relocated its head office in Al-Khobar, exited the short-term rentals business, and adopted a new strategic plan — Shift 2025 — defining a clear roadmap for the company. The plan involves expanding its core leasing business while introducing new value-added services for corporate and retail clients. The strategy includes a dedicated operational excellence program that focuses on increasing the scale of the company’s core leasing operations through enhancing key business processes to deliver better customer experience.

 

The main elements of Shift 2025 are to optimize and grow the core leasing business and gradually introduce synergistic new services. The leasing business will also diversify by targeting SMEs and individual consumers with tailor-made solutions based on specific needs. A digital transformation project — Switch — is included in Shift 2025, targeting the digital optimization of AutoWorld’s procedures across all business lines, while setting the stage for disruption in the region’s auto-leasing sector.

 

At the same time, corporate governance was strengthened by activating the Board Nomination and Remuneration Committee and the Audit and Risk Committee, and strengthening the executive management team.

Operational highlights of 2019 included new contracts that were signed with leading corporates and government entities, delivering more than 2,000 vehicles, with a further 2,500 due in the first half of 2020.

 

www.autoworld.com.sa

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