Saudi Arabia: Passenger Car Market 2024

Passenger Car Market Size in Saudi Arabia

In 2022, the Saudi passenger car market decreased by X% to less than $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Passenger Car Production in Saudi Arabia

In value terms, passenger car production declined to $X in 2022 estimated in export price. In general, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Passenger Car Exports

Exports from Saudi Arabia

In 2021, after three years of decline, there was significant decline in overseas shipments of passenger cars, when their volume decreased by X% to X units. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, passenger car exports fell to $X in 2021. In general, exports recorded a significant decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for passenger car exports from Saudi Arabia, with a X% share of total exports. Moreover, passenger car exports to the UK exceeded the volume sent to the second major destination, Sudan (X units), threefold. The third position in this ranking was held by the United Arab Emirates (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (X% per year) and the United Arab Emirates (X% per year).

In value terms, the UK ($X) emerged as the key foreign market for passenger cars exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Sudan, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Sudan (X% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, growing by X% against the previous year. Overall, the export price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X,114 per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Yemen ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Saudi Arabia

In 2021, approx. X units of passenger cars were imported into Saudi Arabia; picking up by X% against the year before. Overall, imports, however, saw a pronounced slump. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports expanded significantly to $X in 2021. Over the period under review, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and South Korea (X units) were the main suppliers of passenger car imports to Saudi Arabia, together comprising X% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Saudi Arabia were Japan ($X), China ($X) and the United States ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, increasing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per unit in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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