Saudi Gazette report

RIYADH — The automotive sector in Saudi Arabia is one of the most important commercial activities in the country and is a main pillar of the national economy as the sector contributes greatly to economic growth. The size of the new and used car market exceeds 700,000 cars of varying types per year.

According to the General Authority for Statistics (GASTAT), the total number of new and used vehicles and carriages imported into Saudi Arabia in 15 months (2023 and quarter 1 of 2024) from more than 51 countries exceeded one million vehicles with an estimated value of more than SR83 billion.

The car market in Saudi Arabia is classified as the largest market in the Arab world, according to the American report "Focus to Move", which specializes in researching car markets around the world. The report pointed out that car sales of all types in 2022 exceeded 1.7 million cars, 36% of which were in Saudi Arabia — an increase of nearly 7.1% over the previous year — while the UAE came in second place with a rate of 12.7%, and Egypt in third place with a rate of 10.9%.

The report confirmed that the expansion in the automotive sector contributed to the entry of the car market in Saudi Arabia into the 20 largest vehicle markets in the world.

Faisal Abu Shousha, Chairman of the National Committee for Car Agents confirmed that the size of the used car import market does not exceed 10% of the size of the new car market.