Evolution of the Saudi automobile market
- The evolution of the Saudi automobile market is often dependent on the evolution of oil prices, which remains an essential product for the country's wealth. When prices fall, the enrichment of the country is less important and the automotive market falls and vice versa, when prices rise the Saudi market rises again.
- For the past two years, oil prices have been on the rise again and therefore the automobile market is increasing. In 2022, it reached a volume of 651,484 units (PC+LUV) compared to just under 500,000 units in 2020. But it reached more than 750,000 units per year during its best years, as in 2014, 2015 and 2016, with sales peaking in 2015 with a volume of nearly 900,000 units.
- The Saudi market is mainly a sedan market (280,000 sales in 2022) especially C and D segments (220,000 sales) and SUVs (250,000 sales) especially C and D segments (200,000 sales). Sedans represent 43% of the Saudi market and SUVs 38%. Pickups represent 11% of total sales, with 73,000 units in 2022. Minivans represent only 1% of total sales. Finally, 7% of the market concerns Vans and other light utility vehicles.
- In 2022, the Toyota group consolidates its position on the Saudi market (33% of total sales), ahead of the Hyundai-Kia group (19% of total sales). Chinese brands already account for 16% of total sales in the Saudi market. European carmakers are very little present on this market (less than 3% of total sales).
- The three best-selling models in 2022 were the Toyota Camry (38,124 units), Toyota Hilux (31,148 units) and Toyota Yaris (30,265 units) ahead of the Hyundai Elantra (25,097 units) and Hyundai Accent (18,297 units).