Zahid Tractor to expand Future Contractors Program
Caterpillar’s authorised dealer for Saudi Arabia has revealed plans to grow its SME finance initiative
Zahid Tractor, Caterpillar’s authorised dealer for Saudi Arabia, has revealed that it will expand its Future Contractors Program.
The finance initiative, which was launched in 2014, is designed to facilitate the acquisition of Caterpillar equipment for small- and medium-sized enterprises (SMEs).
The dealer now intends to broaden the programme to include a greater range of products and services.
“[The initiative has] been successful to the point whereby we’re now ready to take it to the next level,” explained Khalid El Shurafa, marketing manager at Zahid Tractor.
“Firstly, we’re looking at introducing more Cat products to the Future Contractors Program. There has been a limit to the types of product that could be included due to the transaction cap. We’re therefore considering raising this cap.
“We’re also thinking of offering extra packages to customers in terms of training and maintenance,” he added.
The KSA dealer’s finance initiative was introduced to support Caterpillar’s broader strategy to make its equipment more accessible to end users. El Shurafa contends that by offering both financial and operational support, the Zahid Tractor has succeeded in overcoming some of the common challenges associated with selling ‘premium’-segment construction machinery in the Middle East.
“This programme is helping us to rebuff the ‘premium’ myth,” he told PMV.
“[SMEs] have welcomed this initiative with open arms. Regardless of the initial cost, Zahid Tractor is helping them out with maintenance, training, and so on. This channel has become a large contributor to our overall sales; its growth has been phenomenal,” El Shurafa concluded.
For the full interview with Zahid Tractor's El Shurafa, and additional perspectives from Caterpillar and Al-Bahar, check out the April 2014 issue of PMV Middle East.