Saudi Arabia Auto Market underperformed 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%.
Saudi Arabia Vehicles Sales Statistics in 2017 fell 23% hit by first recession since 1999, due to reduced oil output in compliance with OPEC’s agreement and reduced government support. This albeit December was pushed up by sales anticipating VAT introduction.
Saudi Arabia new vehicles registrations fell sharply in the second quarter of the year reporting the deepest lost since the 2008 and confirming that the last five years winning string is broken.
Saudi Arabia Cars Sales in Q1 2016 had been better than expected with the lowest lost among all the Gulf countries. Despite economic difficulties due to the oil sector, the lost has been moderate.
Saudi Arabia Vehicles Market in 2015 hit the new all time record, the 5th in a row despite impact of oil prices at 14-year low. The 2016 is foreseen down moving ahead the target of 1 million annual sales.
Saudi Arabia new cars sales hot again in the first half 2015 albeit fears for low oil price impact on domestic economy. The auto market scored the best first half ever at the end of 17th consecutive year on year growth.
In 2014 Saudi Arabia Vehicles Market was the 15th largest worldwide hitting a new sales record, the fourth in a row albeit sharp cut of crude oil international price. Amazing performances scored by Kia and Renault.
Saudi Arabia Vehicle Market at record first half while clouds are over next future due to the negative convergence of many factors, including global slower economy, fight to terrorism and the huge re-call campaign involving Toyota.
Q1 2014 Saudi Automotive industry rose 3%. Albeit this was the best ever first quarter for this market, local observers were disappointed by a lowered demand fearing for a possible data consolidation during the upcoming months.
In 2013 the Saudi Arabian light passenger vehicle market posted the third annual record in a row, despite a weak second half of the year. Toyota recorded over 300k sales while Ford advanced in third with over 50k and Geely jumped in 9th place.
In July, Saudi Arabia light passenger vehicle market rose 9.9% keeping the momentum, with year to date sales up 11.2% from last year. Hyundai gained space at Toyota achieving over 20% of share. Many positions behind, Nissan was able to double sales.
During the first half 2013, Saudi Arabia car sales kept the momentum and grew 11% from the previous year, pushed up by strong vehicles demand in low and mid class segments. Chinese brands are fast taking spaces, with Geely surged in Top 10 for the very first time.
The Kingdom of Saudi Arabia is working to attract foreign investments in the automotive sector aiming to become the hub of the booming Gulf region. Among all global players, Ford looks the perfect partner to accept the Saudi invitation.
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 Vehicles sales statistics report a new record volume hit in the year when sales rose a robust 18.5% from the previous year, first time above the 0.7 million units. The market now advanced as world’s twenty-first and the run in not over yet.
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.