Saudi Arabia Auto Market in October 2023 grows for the 7th month this year, with 74,824 new sales reported (+21.4%). YTD figures at 605,517 are up 20.8% from the previous year. Ford enters the top 10 rising 98.4% in sales.
Market Trend and Outlook
The Saudi Arabian vehicle market in October 2023 grows for the 7th month this year, with 74,824 new sales reported (+21.4%). YTD figures at 605,517 are up 20.8% from the previous year.
Looking at cumulative data up to October 2023 brand-wise, the leader Toyota holds 30.1% market share with sales up 17.3% at 182,288, followed by Hyundai in second with 92,637 units sold (+29.8%).
In third place ranks Nissan with 40,359 sales (+27.7%), followed by Kia at 38,937 (+58.4%), Ford at 29,145 (+98.4%), Changan at 26,544 (-6.0%) and Isuzu in 7th with 24,123 new registrations (+53.3%).
Geely maintains 8th with 23,259 sales (+28.4%), followed by Mazda with 21,168 units sold (+0.7%) and Suzuki closing the Top 10 with 17,123 new registrations (+113.1%).
Looking at specific models the Toyota Yaris Sedan is the best seller up 51.2% and 1 spot from the previous year, followed by the Hyundai Accent in second with a 61.3% 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.