Saudi Arabia Auto Market in September 2023 falls for the 3rd month this year, with 50,690 new sales reported (-3.4%). YTD figures at 490,818 are up 11.6% from the previous year. Ford enters the top 10 rising 90.2% in sales.

Market Trend and Outlook

The Saudi Arabian vehicle market in September 2023 falls for the 3rd month this year, with 50,690 new sales reported (-3.4%). YTD figures at 490,818 are up 11.6% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Toyota holds 29.8% market share with sales up 7.6% at 146,491, followed by Hyundai in second with 76,221 units sold (+23.4%).

In third place ranks Nissan with 31,633 sales (+12.0%), followed by Kia at 30,016 (+37.0%), Ford at 23,436 (+90.2%), Changan at 23,174 (-6.1%) and Geely in 7th with 19,111 new registrations (+22.4%).

Mazda falls 1 spot into 8th with 18,540 sales (+1.0%), followed by  Isuzu with 17,971 units sold (+29.1%) and Chevrolet closing the Top 10 with 12,696 new registrations (-22.9%).

Looking at specific models the Toyota Yaris Sedan is the best seller up 25.1% and 1 spot from the previous year, followed by the Hyundai Elantra in second with a 18.8% year-on-year increase in sales.

Medium-Term Market Trend

Saudi Arabian is the 22nd largest in the World, although is still far from the record volume hit in the 2015. 

That record arrived after a fast growing decade but the rapid growth was followed by years  of difficulties, correlated with the low price of oil in th international market which limited the GDP growth.

Then, the 2020 measures anti-covid further hit th industry with sales fell at 469K, before to assist at a prompt recovery in 2021, with sales up 24.6%.

Next years perspectives are moderately positive, with GDP expansion and opportunities to increase the circulating park.

Tables with sales figures

In the tables below we report sales for top 10 brands.

Excel Dataset

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Table of contents

• Country Overview
  • Geography
  • History
  • People & Politics
• Economic Outlook
  • Economy
  • Infrastructure
• Market Outlook
  • Market Heritage
  • Car Passenger’s segmentation
  • LCVs segmentation
  • Car Passengers Body Type mix
  • LCVs Body Type mix
  • Premium segment share
  • Chinese OEMs share
• Key Players
  • Top selling Groups 2022
  • Top selling Brands 2022
  • Premium Brands
  • Chinese Brands
• Market Data By Model
  • Top selling Models 2022
  • Top models by segment and body type
• Key Factors for market Evolution
  • Country development
  • Economic Outlook
  • Customer base evolution
  • Low-Carbon Transition Policy
  • Infrastructure & Investments
• 2023-2028 Volume Forecast
  • TIV evolution by segment
  • Cars and LCVs forecast
  • Segments forecast
  • Premium segment share forecast
  • Chinese OEMs share forecast
  • Forecast by Manufacturer

Price for market research: €2,500

Price for market research + Last 2 Years dataset in excel: €4,000

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Saudi Arabia Auto Market in 2022 totals 625,767 sales, the highest in 6 years and a 7.1% increase from the prior year. December confirms the uptrend, posting the 6th consecutive growth with 62,556 sales (+28.2%).

Market Trend and Outlook

In 2022 the Saudi Vehicle Market totals 625,767 sales, the highest in 6 years and a 7.1% increase from the prior year. December confirms the uptrend, posting the 6th consecutive growth with 62,556 new registrations (+28.2%).

Looking at cumulative data from 2022 brand-wise, the leader Toyota is back above 30% market share with sales up 23.4% at 197,577. Hyundai lags far behind  in second, reporting 89,015 sales(-5.8%), less than half of Toyota’s.

In third place ranks Nissan with 36,288 sales (-5.2%), followed by Changan at 35,028 (+28.6%), Kia at 30,294 (+14.0%), MG at 30,026 (+24.4%) and Mazda in 7th with 25,280 new registrations (-8.1%).

The Chinese brand Geely secures 8th position -up 4 spots- with 22,084 sales and a 66.9% increase from the prior year. Chevrolet ranks in 9th with 21,938 sales (+12.0%) and Ford closes the Top 10 with 20,550 sales (-33.3%).

Tables with sales figures

In the tables below we report sales for top 10 brands.

Saudi Arabia’s car market in 2021 rises by 24.6% with 585,351 sales, reporting a very strong performance all year, except for a flat Q1. Chevrolet is the only brand in the leaderboard to report losses, falling 16.2%.

Market Trend

The Saudi Arabian car market this year recovered effectively from the pandemic crash of 2020 and reported a very promising performance all year, except for Q1, which has been flat.

After starting the year in a very positive tone (+27.4% in Q1), the market quickly collapsed as the virus struck. Aiming to slow down the spread of the COVID-19, on March 15th the Government imposed closure for shopping malls, restaurants, and public parks, with the exception of essential businesses, while on the 24th of March, a national curfew was introduced.

As a result, the car market in March was almost flat (-1.7%), while the sharpest drop in sales this year was in April when sales declined by 74.2%. In June the market revamped impressively (+103.9%) when a rush to purchase vehicles was created by the July 1st VAT introduction. In the second half of the year, the market remained heavily hampered by the pandemic, with every month reporting double-digit drops in sales.

Due to the COVID-19 pandemic sales fell in  2020. In fact, 469,593 units have been sold, reporting a decline of 13.4% compared to 2019.

In 2021 the year started flat for the Saudi Arabian market, in fact, in Q1 140,561 units have been sold, reporting a 0.2% decrease in sales compared to Q1 2020, while in Q2 sales started growing again, reporting a 33% increase in sales with 151,111 units sold due to the low levels reported in Q2 2020.

In Q3 sales kept increasing quickly, gaining 69.6% with 150,708 units sold, and in Q4 sales gained 12.9% with 142,971 units.

Indeed, Full-Year sales for 2021 have been 585,351, reporting a 24.6% increase compared to 2020.

Brand-wise, this year the leader Toyota (+27%) gained 0.6% market share, followed by Hyundai (+16.5%), which lost 1.1% share. Nissan (+27.8%) remained in 3rd place, gaining 27.8%, while Mazda gained 7.4%, followed by Changan -up 3 spots- which gained 39.6% and reported the best performance.

Kia -down 1 spot- ended in 6th place and gained 6.3%, followed by Isuzu  (+6.8%) and MG -up 1 spot- which gained 26.3% sales. Closing the leaderboard we have Ford -up 1 spot- gaining 35.3%, overtaking Chevrolet -down 4 spots- which lost 16.2% sales.

The most sold vehicle this year is the Toyota Camry (+34.9%) with 33,420 units sold, followed by the Hyundai Elantra (-7.3%) registering 24,898 new sales this year. The Toyota Yaris (+80.2%) closes the podium and reports 24,545 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 brands and top 10 models.

Saudi Arabia auto market in 2020 falls by 13.4% as the pandemic and lockdowns affect sales. Full-Year sales have been 469.593. MG reports the best performance on the leaderboard by doubling sales.

Market Trend

The Saudi Arabian car market has been hit in 2020 by the world-wide COVID-19 pandemic, which has impacted sales significantly.

After starting the year in a very positive tone (+27.4% in Q1), the market quickly collapsed as the virus struck. Aiming to slow down the spread of the COVID-19, on March 15th the Government imposed closure for shopping malls, restaurants, and public parks, with the exception of essential businesses, while on the 24th of March, a national curfew was introduced.

As a result, the car market in March was almost flat (-1.7%), while the sharpest drop in sales this year was in April when sales declined by 74.2%. In June the market revamped impressively (+103.9%) when a rush to purchase vehicles was created by the July 1st VAT introduction. In the second half of the year, the market remained heavily hampered by the pandemic, with every month reporting double-digit drops in sales.

Indeed, Full-Year sales for 2020 have been 469.593, reporting a decline of 13.4% compared to 2019.

Brand-wise, this year the leader Toyota (-15%) lost 0.2% market share, followed by Suzuki (-34.8%), which lost 5.5% share, registering the worst performance in the leaderboard. Nissan (-11.1%) on the other hand jumped one spot and gained 0.3% share overtaking Mazda which lost 29.6%, followed by Kia -up 2 spots- which gained 2.7%.

Chevrolet -down 1 spot- ended in 6th place and lost 12.1%, followed by Isuzu  (-7%) -down 1 spot- and ChangAn -up 2 spots- which gained 85.2% sales. Closing the leaderboard we have MG -up 2 spots- reporting the best performance in the leaderboard by increasing sales by 101.1% and Ford -down 1 spot- in last place losing 1.4%.

The most sold vehicle this year is the Hyundai Elantra (-25.8%) with 26.853 units sold, followed by the Toyota Camry (+1.9%) registering 24.783 new sales this year. The Toyota Hilux (-9.2%) closes the podium and reports 21.838 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 brands and top 10 models.

In the Saudi Arabian market, the best-selling car has frequently changed over the last decade, and the 2019 reported a new leader.

Indeed, in 2019, the Hyundai Accent gained the market crown, booming over 80% from the previous year and reaching 7.7% of share.

In second place, the Hyundai Elantra – gaining 3 spots – holding 6.8%, ahead of the Toyota Camry with 4.6% and the former leader, the Toyota Hilux, with 4.5%.

The Toyota Yaris Sedan jumped in 5th place – surging 36.4% – with 4.2% of market share, outpacing the Hyundai Sonata – down 2 spots – and the fast-growing Nissan Sunny.

In eight place, the Mazda6 holding 3.2% followed by the Toyota Corolla, which lost 3 positions from 2018, and the Isuzu TF, closing respectively with 3.1% and 3%.

Tables with sales figures

In the tables below we report sales for the top Models

Saudi Arabia Auto Market in 2019 reported a strong growth, following the lowest sales level in the decade hit last year. Indeed, the Full-year sales have been 542.538, up 29%. While the leader Toyota kept losing market share – ending below 30% – Mazda grew up in third place with an amazing escalade.

Economic Environment

The economy logged its first contraction in nearly two years in the third quarter. The drop reflected oil production cuts in compliance with the OPEC+ deal and a terrorist attack on the Kingdom’s oil facilities in September, which effectively shut down more than half of the country’s oil production. Conversely, the non-oil sector continued to expand vigorously due to strong credit growth and policy support.

Looking to Q4, despite a moderation in December, the non-oil sector remained strong in the period. The 2020 budget approved in mid-December suggests that fiscal stimulus could moderate this year as the fiscal plan focuses on financial stability and includes a cut in government spending, mostly in capital expenditure.

Moreover, the government projects a deficit of 6.4% of GDP for 2020, wider than the 4.7% shortfall the government estimated for this year. 

VAT Introduction

Back in June 2016, all six Gulf Cooperation Council (GCC) member states signed the Common VAT Agreement. It was agreed that each GCC Member State would introduce a VAT system at a rate of 5%.

On January 2018 a Value Added Tax (VAT) has been introduced in Saudi Arabia and the United Arab Emirates for the first time, breaking a milestone, if considering Gulf states have long attracted foreign workers and capitals with the promise of tax-free living.

But governments want to increase revenue in the face of lower oil prices and a 5% levy is being applied to the majority of goods and services. For “technical reasons” other members of the Gulf Cooperation Council – Bahrain, Kuwait, Oman, and Qatar -, also committed to introducing VAT,  have delayed plans.

Vehicles Market Trend

Saudi Arabia vehicles market is enveloped in the deepest crisis ever.

In the period 2010-2015 the market had been one of the fastest growing in the World, almost doubling volume from 449.280 units in the 2010 to a record of 844.437 in the 2015. Unfortunately, the fall of oil price in the international market and the measures taken by the government trying to sustain the budget, have reduced the consumers spending, hurting the industry.

New vehicles sales started to decline and in the 2018 the annual volume was lower than in the 2010, with 420.701 sales. In the 2018, the oil price was still almost low and the introduction of VAT created a general price increase, reducing the purchase power and constraining the new consumer goods demand, including vehicles.

However, in 2019 the market has started a new positive cycle, over half a million sales level. Indeed, the Full-year sales have been 542.538, up 29%.

The absolute dominion of Toyota is progressively declining as several new manufacturers have approached the market. Toyota held over 40% market share in the 2010 while each year this position has been eroded, with 2019 at 27.3%, the lowest level in the history of this market.

The over ten points lost in this decade by Toyota has been taken by several competitors. However, while the second place taken by Hyundai with a share in the last 7 years between 17.3% and 23.6% (in 2016) was not a surprise, the third place actually taken by Mazda was really a great news. Mazda share exceeded the 2% for the first time in the 2015, hitting a record in 2019 with 6.7% of share.

Behind, Nissan, Chevrolet, Isuzu, Kia, Mitsubishi Ford and other 50 players.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

In the 2018 the market is almost negative, below the already negative expectations.

The double effect of VAT introduction and anticipated sales to Q4 2017 in foreseen price increase has severely hit the first quarter, with sales down a huge 28.3%. In the second quarter the market was marginally (+0.9%) positive before to fall down again in the Q3, with 78.887 units (-23.7%).

In October sales were 33.122 (-16.1%) with Year to date figures at 335.196 (-20.0%) and the full year 2018 projected at 450.000 units.

As far as the best selling cars ranking, in the 2018 the the new leader is the Toyota Hilux with 20.469 sales (-6.5%) followed by the Toyota Camry with 18.883 (-38.2%) and the Hyundai Sonata with 18.156 (-11.5%).

In fourth place, the Hyundai Accent with 18.051 (-19.1%) ahead of the Hyundai Elantra with 15.739 (-27.4%), Toyota Corolla with 13.283 units (-24.1%) and the Toyota Yaris with 12.328 (-18.8%).

In eight place the Mazda6 2 spots with 9.898 units (-13.5%), followed by the Nissan Sunny with 9.701 (-22.3%) and in 10th place by the Isuzu TF with 8.944 (+12.4%).

Tables with sales figures

In the tables below we report sales for the top 100 Models

Saudi Arabia Auto Market under performed any expectation in the 2018 hit by the VAT introduction and by a slower than expected economic recovery, with the price of oil dropped back again. Full year sales at 420.701 light vehicles felt down 22.8%.

Economic Environment

Saudi Arabia economy appears to have ended 2018 on a solid footing, while prospects for this year are quickly deteriorating. This is predominantly the consequence of oil production cuts agreed in December among OPEC+ countries, which will drag on GDP growth this year. That said, the oil production caps have started to boost oil prices, which should shore up government revenues somewhat.

Despite greater fiscal support, the economic recovery is likely to lose some steam this year as an uncertain global oil outlook, oil production cuts in compliance with the OPEC+ deal and negative spillovers from the Saudization policy are expected to hit economic activity.

Moreover, key economic reforms appear to have stalled, which threatens long-term economic growth in the country.

VAT Introduction

Back in June 2016, all six Gulf Cooperation Council (GCC) member states signed the Common VAT Agreement. It was agreed that each GCC Member State would introduce a VAT system at a rate of 5%.

On January 2018 a Value Added Tax (VAT) has been introduced in Saudi Arabia and the United Arab Emirates for the first time, breaking a milestone, if considering Gulf states have long attracted foreign workers and capitals with the promise of tax-free living.

But governments want to increase revenue in the face of lower oil prices and a 5% levy is being applied to the majority of goods and services. For “technical reasons” other members of the Gulf Co-operation Council – Bahrain, Kuwait, Oman, and Qatar -, also committed to introduce VAT,  have delayed plans until at least 2019.

Market Trend

Saudi Arabia vehicles market is enveloped in the deepest crisis ever. Indeed sales improved fast until the 2015, before that the country entered in recession, due to the fall of oil price in the international market and the measures taken by the government reduced further consumers spending, hitting the industry. In the 2016 the market fell 15.3%, but it was just a step in the prolonged crisis in place.

Indeed, 2017 started very slow with first half sales down 16.1% at 304.000 units, but the second half was even worse, losing near 30%. Just at the end of the year the market recovered with December booming up 26.2% (probably just to anticipate effects of VAT introduction, from January). Furthermore, the 2017 ended with the worse score in this decade with light vehicles sales at 544.721, down 23.9%.

The effects of VAT introduction had been sharp in both KSA and UAE with car markets hit despite signs of fast recovery in the primary oil sector while the reform which allowed women to drive vehicles, did not sort any effect for several reasons, not last the mentality and the culture, which will change only in middle terms starting from young middle class.

Indeed in the 2018 the market has been again negative. Indeed, the double effect of VAT introduction and anticipated sales to Q4 2017 in foreseen price increase has severely hit the first quarter, with sales down a huge 28.3%. The market has ended the year with 420.701 units sold (-22.8%), falling for the third consecutive time.

Brand wise, the 2018 market has been dominated by Toyota, represented in the country by the oldest importers in the World, which sold 130.474 light vehicles (-23.3%) with market share at 31%. On the podium Hyundai and Nissan, with a wide distance from the top.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Saudi Arabia vehicles market is enveloped in the deepest crisis ever. Indeed sales improved fast until the 2015, before that the country entered in recession, due to the fall of oil price in the international market and the measures taken by the government reduced further consumers spending, hitting the industry. In the 2016 the market fell 15.3%, but it was just a step in the prolonged crisis in place.

Indeed, 2017 started very slow with first half sales down 16.1% at 304.000 units, but the third quarter was even worse, losing near 30%. Just at the end of the year the market recovered with December booming up 26.2%.

Indeed, the introduction on VAT from December 1st, with the increase in price by 5%, over-stimulated consumer’s to anticipate sales before year-end. However, full year 2017 have been almost negative, with light vehicles sales at 544.721, the worse data in this decade, down 23.9% from the previous year.

As far as the best selling cars ranking, in the 2017 the crisis changed many position and a new leader stands on top of the list, the the Toyota Camry , up 4 spots, with 34.679 sales (-2.3%) followed by  the best pick up, leader in the 2015, the Toyota Hilux with 31.661 (-30.2%) and the Hyundai Sonata with 29.876 (-5.5%).

In fourth place the  former leader, the Hyundai Accent with 29.703 (-44.1%) ahead of the Hyundai Elantra with 27.322 (-37.1%), Toyota Corolla with 23.899 units (-32.8%) and the Toyota Yaris with 22.914 (-20.3%).

In eight place the Mazda6 up 2 spots with 15.195 units (+8.0%) followed by the Nissan Sunny with 15.090 (+0.3%) and in 10th place by the Toyota Fortuner with 11.296 (-10.7%).

Tables with sales figures

In the tables below we report sales for the top 100 Models