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.
In 2014 according to data released by focus2move Research Team through local sources and KSA Authority for Transportation, the total new Light Passengers Vehicles sold have been 864.488, up 11.8% from the previous year, and hitting the new all-time record, the fourth in a row.
following a positive first half, the second was widely above expectations with all months growing in double-digit pushing the final year above observers expectations.
In the 2014 Saudi Arabian market advanced in 15th place globally ahead of Thailand and behind Spain, signing a significant step towards the achievement of 1 million annual units.
The sharp reduction of crude oil price in the international market has hit the KSA public revenue but reinforced the efforts to rapidly generate additional and alternative sectors. This daring approach was confirmed in the 2015 Budget,that has allocated a record investment on new roads, industrial and commercial centers and airports, with a GDP 2015 expected at 4.5%, the second highest among the 6 countries of the Gulf, just behind UAE.
In the market arena, Toyota kept the first half pace ending ed the first half at a record volume just near the 300k, at 299.707 units and 34.7% of market share.
In second place there was Hyundai with 147.668 sales , up 3.3% from the previous year with 17.1% of share.
The star of the year was Kia, jumped up 69.0% overtaking Ford in third place with 70.421 sales and 8.1% of market share.
Keeping the momentum, Renault was the second faster growing brand with sales up 62.7% from 2013 thanks to huge demand on the Duster. Total sales had been 13.394 ranking in 10th place, up 3 spots from 2013.
Tables with sales figures
In the tables below we report sales for the top Models