Rymco Newsletter 2013 3/11/13 12:32 PM Page 1 Rymco Newsletter 2013 3/7/13 4:32 PM Page 2
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Rymco newsletter 2013 3/11/13 12:32 PM Page 1 Rymco newsletter 2013 3/7/13 4:32 PM Page 2 Letter from the Chairman Dear Readers, With the New Year rolling in, I would like to personally wish you a healthy and flourishing year. Despite witnessing ups and downs in 2012 with the political turmoil in the region and occurrences in Lebanon, we have managed to keep our welfare and economy stable. Fortunately, I believe that this is a result of our will power, positive energy and the optimism that we always tend to demonstrate. Rasamny Younis Motor Company has witnessed some rough times of its own; however, with the right strategic direction as our skeleton and a devoted team of employees, we have managed to identify the key goal to maintain this business at the highest level of expectation: our commitment to stakeholders' satisfaction. The year 2012 was a good year for RYMCO; we have many accomplishments to be proud of; outstanding financial results versus the previous years, high market share, brand positioning, customer satisfaction for our Aftersales service, several new model launches, Corporate Social Responsibilities, and many others which you will read about elaborately in the pages to come. Upon closing the year 2012, the financial statement exhibited proud figures proving to us that our hard work throughout the year was entirely successful. Referring to page (9), you will find a table demonstrating the achieved numbers in comparison to 2011. Given the situation the automotive industry has developed into, RYMCO maintaining its top 3 market share position has been challenging. The market has become extensively an A and B segment market with prices ranging below $13,000, segments we are not present in. We worked despite this fact and did the best we could and achieved high sales volume. Through studies and analysis, we have reached the conclusion that not only has consumer behavior shifted towards these popular segments, but the used car imports volume has drastically been decreasing yearly since 2012. The increase of new car sales is actually a cannibalization from the imported used vehicles. When it comes to our marketing plan, we always have one thing in mind: brand position. RYMCO is one of the strongest dealers in Lebanon holding great car manufacturer brands under its portfolio of brands. Whether we are referring to its own corporate identity or to the brands it holds, we have managed to keep strong brand images, illustrating their strengths versus other brands in the market. Another factor that has paved RYMCO's brand position is its well-trained, experienced and professional Aftersales Service Team, ensuring the constant satisfaction of our customers. We had many successful new model launches throughout 2012, the “Funkiest Crossover” Nissan Juke, the popular Nissan Sunny, and the historic All-New Altima. Each of these models has found their place in the Lebanese market whether by creating their own new segments or evolved into a new generation based on the success of the model in previous years. This year, we have a hopeful plan to launch several models in new segments or by evolving the all-new Nissan Sentra and the all-new Infiniti JX along with the long-awaited 4th generation of the popular Nissan Pathfinder. Finally, allow me to express our interest in moral and corporate social responsibility; belonging to a society automatically entails you to hold conscientiousness to your surroundings. We strongly believe that it is our duty to contribute to the environment and to the community we live in. Let us act together on this matter to be able to make a difference. We look forward to the exciting years ahead of us, promising to deliver on the best. Sincerely yours, Fayez C. Rasamny Rymco Corporate Newsletter |3 Rymco newsletter 2013 3/7/13 4:32 PM Page 4 IN THIS ISSUE • Letter from the Chairman 3 • What’s on your mind? 7 • RYMCO Financials 9 • RYMCO Automotive and Market Situation 11 • RYMCO Campaign Highlights 15 • RYMCO Events 17 • RYMCO News 21 International & Regional news Local news Aftersales news Digital news Awards and recognitions RYMCO annual employee dinner • RYMCO Coming in 2013 41 Rymco newsletter 2013 3/7/13 4:32 PM Page 6 WHAT’S ON YOUR MIND? This newly added section in the newsletter allows our customers to share what’s on their mind. We always appreciate customer suggestions, feedback and remarks towards our company. It is beneficial to us to receive your input, so please voice your opinion and if you would like us to include it in the next issue of our biannual issues, please let us know by sending an email to [email protected] or through our Facebook page. Thought it is always crowded and no one could pass without reservation, maintenance is very good, Asaad Great service and very friendly team. They have always is an excellent service advisor and Call Center is exceeded my expectations and I never had to worry professional. about fixing the car. It is a pleasure dealing with them. Mr. Yasser Tay- Sara Dibes, ‘‘ Infiniti FX35 ‘‘ Infiniti G35 Very Satisfied with customer servicing at Rymco. In the Employees are very good. They call us after we finish After sales, they are punctual and pay good attention the service to check if everything went well. Excellent to Cars And customers. service which exceeds our expectations. Mr. Maroon Karam, Mr. Jihad El Jawhari- ‘‘ Nissan Tiida ‘‘ Nissan Xtrail Classic Very good service, punctual, advisors are very friend- Great service, punctual maintenance, and even ly, and up to my expectations. sometimes exceed my expectation for car delivery. Mr. Imad Salameh, Cherine Hamaiti, ‘‘ Infiniti Fx35 &Nissan Qashqai, ‘‘ Nissan Tiida Rymco Corporate Newsletter |7 Rymco newsletter 2013 3/7/13 4:32 PM Page 8 RYMCO FINANCIAL STATEMENT KEY FIGURES JAN-DEC 2012 JAN-DEC 2011 Q1-Q4 ACTUAL Q1-Q4 ACTUAL New Cars Sales (nb of units) 8,009 6,806 New Cars Sales ($) $143,524,922 $129,853,614 Turnover ($) $166,506,534 $156,282,595 Turnover Increase in % versus last year 6.54% Gross Operating Income (EBIT) $9,608,462 $7,809,434 EBIT Increase in % versus last year 23.04% EBT $6,005,660 $1,944,255 EBT Increase in % versus last year 208.89% Return on Total Sales (ROS) 3.61% 1.24% Return on New Cars Sales 4.18% 1.50% Debt to Equity Ratio 1.30 1.71 Rymco Corporate Newsletter |9 Rymco newsletter 2013 3/7/13 4:32 PM Page 10 New Car Sales + Used Imports 95333 76749 74050 59221 42228 36112 36388 34521 37662 TIV(New + Imports) New Used imports 2010 2011 2012 • The Total Industry Volume, including New and Used car sales is decreasing. • Used cars dropped by 28.69% in 2011 vs. 2010, and 13.83% in 2012 vs 2011, therefore the increase in new car sales of 9.09% is actually a cannibalization from the used imported vehicles. RYMCO Market Share Vs. TIV (Including commercial vehicles) 37662 36112 35418 34521 34752 20082 8085 7932 6407 6369 4273 6252 2007(21.28%) 2008(22.40%) 2009(23.26%) 2010(17.64%) 2011(18.56%) 2012(16.60%) RYMCO Total Market Growth Variation –2011 vs 2012 TIV +9.09% Cars +6.21% SUV +19.45% CV +5.75% MPV +70.31% Rymco Corporate Newsletter | 11 Rymco newsletter 2013 3/7/13 4:32 PM Page 12 TIV – Split per Month (Including Commercial Vehicles) Country of Origin Share (incl. Commercial Vehicles) 2011 vs. 2012 37662 34521 • In 2012, Japanese-origin brands market share 42.83% 39.97% percentage decreased while Korean-origin 31.18% 28.39% brands market share increased by almost 3 21.82% 21.35% points reaching 42.83%. 5.95% 6.02% 1.02% 1.27% 2118 3271 3119 3304 2955 2973 3131 2961 3604 3312 3513 3646 3433 2962 2935 2370 3695 3556 2720 2959 2846 1961 2600 2239 2011 2012 January February March April May June July August September October November December TIV Japan Europe Korea USA China 2011 2012 Japanese Segment - Dissection • In 2012, Nissan acclaimed almost 56% of the Seasonality 10760 10696 Japanese Segment 4.500 6038 6123 4637 4658 4.000 3.500 Total Japan JP excl Nissan Nissan 3.000 2011 2012 2.500 2.000 1.500 1.000 500 Top Players (including commercial) 2011 vs. 2012 Jan fev mar apr may june july aug sep oct nov dec 2012 2011 2010 2009 37662 34521 9484 8305 6647 6123 6038 5485 TIV Kia Nissan Hyundai Dealers Market Share (Including Commercial) 2011 2012 2011 vs. 2012 30.00% 25.00% • Total market volume increased by 9%, as a result of increase in sales volume of Hyundai and Kia when comparing 25.18% 25.30% 20.00% 2012 with 2011. Nissan decreased slightly by 1.38% noting that more than 50% of Kia and Hyundai’s sales were 19.52% 17.65% 15.00% 16.71% their A segment models Picanto and i10. 16.60% 10.00% 5.00% • The top 3 players in the automotive market are Kia, Nissan and Hyundai, constituting almost 60% of the total TIV. 0.00% These brands are dominating the market. Rymco Natco Century 2011 2012 Rymco Corporate Newsletter | 13 Rymco newsletter 2013 3/7/13 4:32 PM Page 14 END OF YEAR CAMPAIGN 2012 NEW MODEL LAUNCHES OTHER CAMPAIGNS KAWASAKI CAMPAIGNS Rymco Corporate Newsletter | 15 Rymco newsletter 2013 3/7/13 4:32 PM Page 16 RYMCO UNVEILS THE ALL NEW NISSAN ALTIMA Nissan and Infiniti New Showroom plan revealed Rasamny-Younis Motor Company S.A.L.