Saudi Arabia is the 13th largest global country, covering over 2.1 million square kilometers, in the dry desert area of Persic Gulf, with over 26.5 millions citizens. The country is a Constitutional Monarchy, under King Abdallah, that is leading global interfaith dialogue encouraging religious tolerance and respect. During early 2011 Arab Spring protest in North Africa and Middle East area, the Government announced a plan to progressively encourage a social and democratic country evolution. Arabia is a WTO Member since December 2005 and is largely depending by petroleum industry, counting over 75% of National GDP an over 90% of Exports (2nd global exporter).
Saudi Arabia GDP (purchasing power parity) in 2011 was $ 676 billion (+6.4% on 2010), the 24th globally, with a pro capita income (purchasing power parity) of $24.000 (+4% on 2010). The country is one of the wealthy in the world producing a yearly National Surplus above 14% and having a Public Debt only at 9.4% (2011) of GDP. The great opportunity is represented by the use of these resources to increase people real wellness.
The New 6 Economic Cities
In 2005 the King announced an ambitious and world unique project: to built 6 new "economic cities" entirely built from zero, in order to place Saudi Arabia among the world's top ten competitive investment destinations and double pro capita income by 2020. With this project the country could change its economy reducing the high and riskful dependance by petroleum sector.
In spite of reduced speed, the long run of the Saudi Arabian car market is going on as March sales were reported up 17.4% from last year. First two months 2013 were the highest ever with sales up 18.5%. Chevrolet Tahoe advanced in 10th place.
Saudi Arabia car market kept its magic moment and in January increased sales by 17.5% from last year, starting a year where sales volume would exceed the 800.000 units. For the first time ever, Saudi Arab joined the exclusive club of Top 20 car markets.
Saudi Arabia posted a memorable year, hitting the third all-time record in a string and growing 18.5% from the previous year. Toyota confirmed leadership with a share near to 40%, more than double than its challenger, Hyundai.
In October, the Saudi Arab light passengers vehicles market was down 1.3% from last year. The market progress in the first ten months of the year was 14.7%. Chevrolet posted a great month, gaining share while Ford had lost.
Following the marginal decline posted in September, the Saudi Arab car market in October was back on its pathway, posting an impressive 43% year-on-year. In the first 9 months of the year, sales were up 16.6%. Toyota was gaining market space climbing at 48% of share.
The Saudi Arab car market in August 2012 posted 47.899 sales, down 2.7% from last year, breaking a series of 31 consecutive year-on-year growth. Year-to-date sales were 456.000, up 13.7%. In the interesting race for the 3rd place, Ford emerged this month.
In July, the Saudi Arab car market posted 61.066 sales, up 21.4% from last year. Year-to-date July sales were 408.000, up 15.9%. Toyota dominated at 42% of share, ahead of Hyundai. Ford surged in 3rd position, competing with Kia and Chevrolet.
In June, the Saudi Arab car market posted 62.906 sales, up 19% from last year closing the first half with 347.155 sales, up 15% from last year. Toyota further improved its market share, jumping at 41%. Hyundai was far. Toyota Hilux raised 10% of share.
Saudi Arab car market momentum continued in May with 61.106 sales, up 18.4% from last year. Year to date sales in May were 284.249, up 14.3% from last year. In May, Toyota share at 40.1%, more than double than Hyundai at 18%.
There are no car produced here, but the ambitious country aspires to directly produce vehicles, as announced by Saudi Arabian Government in 2010. Actual official plans report for the start of a national production in the 2021, using a new company, with a new local brand.