Saudi Arabia Auto Market in September 2023 falls for the 3rd month this year, with 50,690 new sales reported (-3.4%). YTD figures at 490,818 are up 11.6% from the previous year. Ford enters the top 10 rising 90.2% in sales.
Market Trend and Outlook
The Saudi Arabian vehicle market in September 2023 falls for the 3rd month this year, with 50,690 new sales reported (-3.4%). YTD figures at 490,818 are up 11.6% from the previous year.
Looking at cumulative data up to September 2023 brand-wise, the leader Toyota holds 29.8% market share with sales up 7.6% at 146,491, followed by Hyundai in second with 76,221 units sold (+23.4%).
In third place ranks Nissan with 31,633 sales (+12.0%), followed by Kia at 30,016 (+37.0%), Ford at 23,436 (+90.2%), Changan at 23,174 (-6.1%) and Geely in 7th with 19,111 new registrations (+22.4%).
Mazda falls 1 spot into 8th with 18,540 sales (+1.0%), followed by Isuzu with 17,971 units sold (+29.1%) and Chevrolet closing the Top 10 with 12,696 new registrations (-22.9%).
Looking at specific models the Toyota Yaris Sedan is the best seller up 25.1% and 1 spot from the previous year, followed by the Hyundai Elantra in second with a 18.8% 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.