Future of Saudi Arabia Used Car Market Growth Rate: 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 How Is the Saudi Arabia Used Car Market Positioned? The Kingdom of Saudi Arabia is the largest automotive market in the GCC & the gulf region. It is an important market for car manufacturers and is home to various automotive OEMs. The growing disposable incomes of the people and the recent addition of women drivers to the target audience have contributed to the growth of both new as well as used car sales. The review period also witnessed a boom in the number of online platforms in the country. The General Administration of Traffic also launched a summary service that provides a detailed report on the vehicle’s history, insurance records, previous owners, accidents registered, and more to increase the level of transparency and trust in the market and aid the decision-making process of used car buyers. The used car sales in the Kingdom reached ~ thousand in 2019, witnessing a CAGR of ~% over 2014-2019. The market was valued at SAR ~ billion on the basis of gross transaction value in 2019, growing at a CAGR of ~% over the review period. The used to new car sales ratio was found to be ~ in 2019, highlighting significant improvement. The market faced decline during the review period owing to various factors including economic instability. The departure of ex-pats from the Kingdom during 2016-2017 also adversely impacted the used car sales as they comprised a significant proportion of the used car buyers. Growing traction towards online platforms is contributing to an increase in sales of used cars. Saudi Arabia Used Car Market Segmentation By Market Structure: The used car industry in Saudi Arabia was identified to be largely unorganized due to the preference towards peer to peer sales. Multi-brand outlets & authorized dealerships contributed to the remaining sales volume. Organized Market Segmentation By Sales Channel: Multi-brand outlets/exhibitions accounted for maximum used car sales in the country. Authorized dealerships have relatively less traction in the industry. Unorganized Market Segmentation By Sales Channel: Peer-to-peer sales were analyzed to dominate the market, particularly through online auto-classified platforms. By Type of Car: Sedans were analyzed to account for maximum used car sales in-country in 2019 and are popular among various types of consumers. There is growing traction towards SUVs & crossovers. By Brand: Toyota & Hyundai continue to dominate the used car sales in the country due to better re-sale value to these brands & easy availabilities of spare parts. Sedans are the most popular car types sold for both of these brands. Other brands popular in the market include Ford, GMC & Chevrolet among others. Saudi Arabia Used Market Segmentation By Age of Vehicle: A large proportion of the used cars sold in 2019 were observed to be 3-5 years old. 1-3-year-old cars accounted for the second-highest sales volume. By Kilometers Driven: Cars with a mileage between 80,000-120,000 km accounted for maximum used car sales in the country, followed by 50,000-80,000 km By Region: The central region witnessed the highest used car sales in the country in 2019. The large presence of the working population in the region, including ex-pats, & higher disposable income contributed to the high demand. By Age Group of Buyers: The majority of the used car buyers in the country were observed to fall under the age bracket of 30-60 years. This age group largely includes large families having multiple cars, ex-pats, working professionals & more. The demand for younger people in the age group 18-30 years is also increasing rapidly. By Type of Sourcing: Majority of the used cars in the kingdom are sourced from car-rental/leasing companies & auctions. The country is home to many large car-rental companies with massive car fleets which they de-fleet every 2-3 years. Direct buying from consumers or individual sellers is another major source. Competition Scenario In Saudi Arabia Used Car Market The used car industry in Saudi Arabia is highly competitive with approximately 2,300+ dealerships operating in the space. Both multi-brand outlets/exhibitions & brand-authorized dealerships are operating in the market and each focus on geographical presence and value-added services offered as a key parameter to distinguish themselves. The top 6 brand-authorized players account for ~% of the market on the basis of sales volume. The review period also saw many online auto-classified platforms and marketplaces entering the market. These platforms focus on increasing consumer engagement, a number of listings, and on-boarding more dealers on their platform. Saudi Arabi Used Car Market Future Outlook and Projections The used car market in India is expected to grow at a CAGR of ~% on the basis of gross transaction value and ~% on the basis of sales volume over the forecast period 2019-2025F. The market is expected to witness growth post-COVID-19 from 2021 and sales are expected to recover. Companies are expected to focus on a wider distribution network including online marketplaces & e-commerce platforms and invest in research and development to compete with online platforms and boost their used car sales. The forecast period is also expected to witness growth in the demand for SUVs and crossovers in the country. 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 support@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 Used 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