Saudi Arabia Used Car Market Outlook to 2025: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “Saudi Arabia Used Car Market Outlook to 2025- By Market Structure (Organized & Unorganized), By Type of Car (Sedans & Hatchbacks, SUVs & Crossovers, Pick-ups and Luxury), By Brand (Toyota, Hyundai, GMC & Chevrolet, Ford, and Others), By Type of Sourcing, By Age of Vehicle (Less than 1 year, 1-3 years, 3-5 years & More than 5 years), By Kilometers Driven (Less than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & More than 120,000 Km) and By Region (Northern, Southern, Central, Eastern and Western)” provides a comprehensive analysis of the status of the used car industry in Saudi Arabia. The report covers various aspects including the current sales volume & gross transaction value, target audience, growth facilitators, issues & challenges faced by the industry, customer perception & decision-making parameters, and more. Saudi Arabia Used Car Market report concludes with projections for the future of the industry including forecasted sales volume & gross transaction value by 2025, future market segmentation, Covid-19 impact, emerging online used car models, international case studies, and analysts’ take on the future. Saudi Arabia Used Car Market Overview and Size The used car industry in Saudi Arabia has grown at a CAGR of 0.8% on the basis of gross transaction value over the period 2014-2019 and declined at a CAGR of -2.4% on the basis of sales volume. The departure of ex-pats from the country and the economic instability contributed to the decline in sales during 2016-2017. The addition of women drivers and the high levels of disposable income in the country are some of the major growth drivers of the industry. A boom in the number of online auto-classified platforms and the traction of the consumers towards online platforms is contributing to the inclining used car sales in the country. Saudi Arabia Used Car Market Segmentations By Market Structure: The industry in Saudi Arabia is largely unorganized due to the preference of consumers towards peer to peer sales, largely facilitated by online auto-classified platforms. The organized market comprises of large authorized brand dealerships as well as multi-brand outlets and exhibitions. By Type of Cars: Sedans were observed to dominate the used car market on the basis of sales volume as they are economical and suitable for almost all kinds of buyers. SUVs & crossovers were found to be the second most preferred types of cars in the country and pick-ups & luxury cars contributed to the remaining sales. By Car Brands: Toyota continues to dominate the used car market in Saudi Arabia due to the higher preference of the consumers towards the brand for its reliability and low maintenance. Also, the easy availability of spare parts and the higher residual value of Toyota cars contribute to higher sales. Hyundai contributed to the second-highest sales volume in 2019. By Age of Vehicle: Three to five-year-old used cars were observed to dominate the used car sales in the country in 2019. As the installment period for cars purchased on finance is around 3-5 years after which people usually prefer to sell off their cars. 1-3-year-old vehicles contributed to the second-highest sales volume as a large number of these cars found their way to the used car market when car rental companies’ de-fleet their existing fleet. By Kilometers Driven: A large proportion of the used cars sold in 2019 belonged to the category of 80,000-120,000 kilometers. Cars with a mileage of 50,000-80,000 kilometers were also largely preferred by the consumers due to their nearly new look and feel and are also economical. By Regions: The central region including the capital of Riyadh accounted for the highest number of used car sales in the country in 2019 due to the concentration of the young working population in the region. The western region contributed the second-highest used car sales. Most of the major authorized dealers have multiple showrooms in these regions. By Age Group of Buyers: The majority of the buyers in the used car market were observed to be in the age group 30-60 years. Many young working professionals, expatriates, families owning multiple cars belong to this age group. The demand for used cars among the age group of 18-30 years is also increasing with increasing disposable income and job opportunities. By Type of Sourcing: The majority of the used cars sold in the country in 2019 were analyzed to be sourced from car-rental/leasing companies or used car auctions in the country. Directly purchasing cars from the consumer through buy-sell/park-sell used car imports and trade-ins were identified to be other major mediums for used car sourcing in the market. Saudi Arabia Organized Market Segmentation By Sales Channel: The multi-brand outlets/exhibitions contributed to the majority of the sales through the organized channel in the country. These outlets are spread all across the country and are a convenient way of buying a used car with a large variety of choices at the disposal of the consumer. Saudi Arabia Unorganized Market Segmentation By Sales Channel: The majority of the sales through the unorganized channel were identified to have taken place directly between consumers or C2C transactions. The rise of online platforms has made C2C transactions more convenient and the easy availability of finance in peer to peer transactions is also a contributing factor. Competitive Landscape of Saudi Arabia Market The industry is highly fragmented and competitive with 2,200+ dealerships operating in the market. Many brands have a certified pre-owned car program in place in the country. Amongst the brand authorized dealerships, the top 6 players including Abdul Latif Jameel Motors, Aljomaih Automotive Company, Al Jazirah Vehicles, Universal Motors & Gulf Advantage are analyzed to account for almost half of the used car sales through the authorized dealerships. These players compete on the basis of parameters such as geographical presence, value-added services offered, financing option, after-sales services offered, dealership network, and more. Saudi Arabia Used Car Market Future Outlook & Projections The used car industry is expected to recover from the Covid-19 pandemic and witness growth by 2025. The increasing demand from smaller cities such as Jazan, Arar among others is expected to drive the growth of the industry. The growing traction towards online platforms is expected to compel dealerships to expand their presence online. Online platforms are expected to leverage the latest technologies such as artificial intelligence & virtual reality to enhance the user browsing experience. The overall used to new car sales ratio in the country is also expected to improve in the future. Key Segments Covered: – Saudi Arabia Used Car Market (On the basis of GTV) Saudi Arabia Used Car Market (On the basis of Sales Volume) Saudi Arabia Used Car Market Segmentation (On the basis of Sales Volume) By Market Structure Organized Unorganized By Type of Cars Sedans & Hatchbacks SUVs & Crossovers Pick-ups Luxury By Brand Toyota Hyundai GMC & Chevrolet Ford Others By Age of Vehicle Less than 1 year 1-3 years 3-5 years More than 5 years By Kilometers Driven Less than 50,000 Km 50,000-80,000 Km 80,000-120,000 Km More than 120,000 Km By Regions Central Western Eastern Southern Northern By Age Group of Buyers 18-30 Years 30-60 Years More than 60 Years By Type of Sourcing Car-Rental/Leasing Companies (including Auctions) Buy-Sell/Park-Sell Imports Trade-Ins Organized Used Car Market By Sales Channel Multi-brand Outlets/Exhibitions Authorized/Direct Dealership Outlets Unorganized Used Car Market By Sales Channel Customer to Customer (C2C) Local Dealerships Dealerships Covered Abdul Latif Jameel Motors Aljomaih Automotive Company Ltd. Al Jazirah Vehicles Agencies Co. Universal Motors Agencies Ltd. Mohamed Yousuf Naghi Motors Co. United Motors Company Gulf Advantage Automobiles LLC Others Online Auto-Classifieds/Platforms Covered Haraj Motory Syarah SaudiSale Abi Sayara Key Target Audience Car Dealerships Car Manufacturers Car-Rental and Leasing Companies Used Car Importing Companies Online Auto Classified Companies Industry Associations Regulatory Bodies Used Car Auction Companies Time Period Captured in the Report Historical Period: 2014-2019 Forecast Period: 2019-2025 Key Topics Covered in the Report: – Overview and Genesis of Saudi Arabia Used Car Industry Target Audience Demographics Trends and Growth Drivers in the Industry and Challenges Faced Saudi Arabia Used Car Market Size and Segmentations, 2014 – 2019 Ecosystem and Value Chain of Used Car Industry Customer Decision Making Parameters & Brand Perception Mapping Cross Comparisons between Major Authorized Dealerships and Online Auto-Classifieds/Platforms and Company Profiles Future Market Size and Segmentations, 2019-2025F Covid-19 Impact on the Industry, the Way Forward & Upcoming Online Business Models Analysts’ Recommendations For More Information on the research report, refer to below link: – Future of Saudi Arabia Used Car Market Related Reports by Ken Research: – Spain Used Car Market Outlook to 2023 – Growth within Car Rental Companies Coupled with Shared Vehicle Mobility Segment to drive Used Car Sales Volume in Spain France Used Car Market Outlook to 2023 – Surge in Demand for Rental Cars Backed by Increased Online Used Car Sales Qatar Auto Finance Market Outlook to 2023 –By Banks, Non-Banking Financial Companies and Captives, By New and Used Vehicles Financed, By Type of Vehicle Financed (Motor Bikes, Cars, and Light Commercial Vehicles) and By Loan Time Period Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Abdul Latif Jameel Used Car Market Sales Size, Abi Sayara Used Car Sales Saudi Arabia, Al Jazirah Used Car Market Analysis, Aljomaih Automotive 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