Saudi Arabia Vehicle Market in September 2024 registered 72,441 new sales (+4.1%). YTD figures at 575,817 were up 7.7% from the prior year. Suzuki jumped 4 spots into 6th.
Market Trend and Outlook
Saudi Arabia’s economic outlook for 2024 shows resilience, with the non-oil private sector growing by 4.9% in Q2, led by trade and hospitality, while oil production is set to rebound by 2025. The Kingdom continues its journey toward sustainability, targeting net zero emissions by 2060 through its ambitious renewable energy expansion, aiming for 130GW of renewable capacity by 2030. Investments in EV manufacturing, environmental preservation, and green initiatives such as the Saudi Green Initiative demonstrate Saudi Arabia’s commitment to balancing economic growth with environmental stewardship as it diversifies its economy.
The Saudi Arabian vehicle market in September 2024 grew 4.1% in year-on-year volume and registered 72,441 new sales. YTD figures at 575,817 were up 7.7% from the prior year.
Looking at cumulative data up to September 2024 brand-wise, the leader Toyota reported 171,015 new sales (+6.1%) and 29.7% market share, followed by Hyundai in second with 89,740 units sold (+12%).
In third place ranked Kia -up 1 spot- with 40,935 sales (+21.6%), followed by Nissan -down 1 spot- at 34,171 (-5.3%), Ford at 29,485 (+16.7%), Suzuki -up 4 spots- at 23,800 (+67.9%) and Changan -down 1 spot- in 7th with 21,374 new registrations (-10.2%).
Geely ranked 8th with 20,695 sales (+2.3%), followed by MG -up 3 spots- with 19,681 units sold (+51.6%) and Mazda -down 1 spot- closed the Top 10 with 17,408 new registrations (-8%).
Looking at specific models the Toyota Yaris Sedan was the best seller up 9.2%, followed by the Hyundai Accent -up 1 spot- in second with a 37.5% 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%.
Sales in 2023 totalled 729,466 sales, while increasing by 16.9% from last year.
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.
