Maserati eyes Cambodia as the new growth market in South East Asia
KHMER TIMES Sat, December 12, 2020
Maserati showroom in Phnom Penh. Supplied
PHNOM PENH – Maserati announces the opening of a new market in Asia Pacific as the Brand enters Cambodia and highlights its goals to be a true global automotive player.
Maserati is represented in Cambodia by HGB Group, a strong automotive operator present in the market since 2010. HGB Group will distribute the innovative Italian designed and manufactured full Maserati range to meet customers’ demands at 360°.
HGB Group’s showroom is situated in the most elegant and prominent area of Cambodia’s capital Phnom Penh and is ready to welcome Maserati clients in an exclusive, relaxing and luxurious environment. The opening of the showroom has been announced by Oknha Ngov Leang Houth, Chairman of HGB Group, with a livestream broadcast to a global audience. The facility includes a showroom of 610 sqm displaying the Maserati product line-up and a workshop of 1.760 sqm equipped with 3 work bays.
“Selecting the right partner and having great products are the foundations for success across the Region.” underlined Bernard Loire, Chief Commercial Officer Maserati. “Maserati is entering in a period of intense changes with revolutionary new cars, innovations and projects. Now for us, the focus is strongly on the future, including Hybrid and Electric models. For these reasons, it is a good time to join us in marking the start of the new Maserati Era.”
‘’Maserati has been establishing its presence actively in South East Asia in recent years”, said Luca Delfino, Head of Maserati APAC. “We already have partners in Singapore, Malaysia, Thailand, Vietnam, and Indonesia. Cambodia is a promising market for Maserati growth in South East Asia and we are delighted to have HGB Group as a partner to consolidate our role as a luxury car brand.’’
“HGB Group is extremely proud and excited to launch the iconic Maserati Brand in Cambodia.
Born on the racing track, Maserati has a renowned history of more than 100 years. Its strong racing DNA is clear in Maserati’s history of wins on roads and circuits all over the world, from the Indianapolis 500 to Formula 1”, said Oknha Leang Houth.
“Anyone who drives a Maserati will instantly appreciate the power, performance and beauty that is the epitome of Italian excellence. We bring to Cambodia an inspiring range of Maserati cars that will bring awe and joy to our customers. ”
“There can be no doubt of our passion and love for the Maserati Brand, and we are determined to make Maserati the most successful and aspirational car brand in Cambodia” said Oknha Leang Houth.
With its complete range, Maserati redefines what makes an Italian sports car in terms of design, performance, comfort, elegance and safety, now available in Cambodia in addition to more than seventy markets internationally.
Cambodia is a very promising market for Maserati as the luxury car market is estimated to grow at a Compound Annual Growth Rate of 14% from 2017 to 2020.
Cambodia has an average GDP annual growth of 7% between 2014 and 2018, and up to 6% by 2024. Its major industries (textile, agricultural, tourism and gaming and property) have attracted foreign direct investments of $2.2 billion in 2016, with an average annual growth of 12% in 2014-2016 and up to USD 6 billion by 2024.
On top of this, the number of Cambodians with more than $30 million in net assets increased by 170% over the past decade, and it is set to rise by a further 56% in the next decade. Maserati
SOURCE: KHMER TIMES, CAMBODIA Sat, December 12, 2020