Saudi Arabia 2023. Car Sales Up 16.9% With Suzuki Doubling Volume

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Saudi Arabia Auto Market in grew by double-digits 2023. Total sales reached 729,466 units (+16.9%). Suzuki enters the top 10 rising 100.6% in sales.

Market Trend and Outlook

The Saudi Arabian vehicle market in 2023 totalled 729,466 sales, while increasing by 16.9% from last year. December decreased by 1.3, interrupting a 7th month consecutive string, with 61,490 new sales reported (-1.3%).

Looking at cumulative data up to December brand-wise, the leader Toyota holds 30.2% market share with sales up 11.5% at 220,200, followed by Hyundai in second with 111,358 units sold (+25.1%).

In third place ranks Nissan with 47,218 sales (+30.1%), followed by Kia -up 1 spot- at 44,801 (+47.9%), Ford -up 5 spots at 35,500 (+72.7%), Changan -down 2 spots- at 32,485 (-7.3%) and Geely -up 1 spot- in 7th with 28,589 new registrations (+29.5%).

Isuzu gains 3 spots ranking into 8th with 27,183 sales (+48.7%), followed by  Mazda -down 2 spots- with 25,352 units sold (+0.3%) and Suzuki -up 4 spots- closing the Top 10 with 21,080 new registrations (+100.6%).

Looking at specific models the Toyota Yaris Sedan is the best seller up 36.8% and 1 spot from the previous year, followed by the Hyundai Accent in second with a 60.2% 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.

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