Saudi Arabia News
KSA
Used Commercial Vehicles Market Overview
New sales
and Service Channels: The
increasing adoption of mobile servicing, workforce hygiene, shared mobility,
contactless services, e-commerce and vehicle pick-up has boosted demand for
disinfection, cleaning and car wash services. Customer preference for auto
servicing is shifting towards mobile platforms, which has resulted in the
emergence of mobile app aggregators that connect users with service providers
of roadside assistance, car wash and parts replacement.
Trends and
Recent Development's: The online
platforms as well as dealerships are expanding their presence online and
planning to implement latest technologies such as 360 degrees 3D view of the
interiors & exteriors, artificial intelligence to leverage consumer
behavioural insights and more in order to create a better user browsing
experience. The Saudi Traffic Department introduced the facility for online
transfer of ownership for sale of vehicles amidst the Covid-19 lockdown to
enable transfer without requiring a periodic technical inspection which pushed
the market.
Localized
production: Most vehicles and parts sold in
Saudi Arabia are majorly imported, and local manufacturing is limited to small
auto parts and truck assembly. The government is keen on creating a domestic
automotive industry and has encouraged global vehicle manufacturers to
establish local operations. This would both lead to local job creation,
transfer of technologies and skills and enhance the auto parts manufacturing
supply chain in the country.
Lack of
Regulations & Mismatched Pricing: The industry
lacks a regulatory body & stringent regulation concerning the buying &
selling of used cars, engine requirements or verification. The lack of
standards and regulations governing the industry results in lower consumer
confidence while buying pre-owned cars.
Analysts at Ken Research in their
latest publication “Saudi
Arabia Used Car Market Outlook to 2026F- Driven by Boom in Online Platforms and
Increase in Internet and Smartphone Penetration” observed that post
pandemic, Saudi Arabia will be in a growth phase in the used car market in
Middle East region. Moreover, the rise in the online platforms and increasing
penetration of internet has resulted in higher demand of used cars through
online platforms in the country. Therefore, industry is expected to demonstrate
strong growth in the future led by growth of online used car platforms that
provide convenience to both buyers and sellers and makes the entire process
smoother. The Saudi Arabia Used Car Market is expected to grow at a CAGR of
10.2% on the basis of GTV over the forecast period 2021-2026F.
KSA Used Car
Market
By Market
Structure
- Organized Sector
- OEM Certified Dealers
- Multi-Brand Non-Franchise Dealerships
- Auction Companies
- Unorganized Sector
- C2C
- Local Dealers
- By Type of Car
- Sedan and Hatchback
- Suv
- Pickup trucks
- Luxury
- By Manufacturer
- Toyota
- Hyundai
- Ford
- Chevrolet
- GMC
- Nissan
- Kia
- By Kms Driven
- <50,000
- 50,000-80,000
- 80,000-150,000
- >150,000
- By Age of Vehicle
- <1 year
- 1-2 years
- 3-5 years
- >5 years
- By City
- Northern
- Southern
- Central
- Western
- Eastern
- By Age of the Consumer:
- 18-34
- 35-54
- 55+
- By Age of the Consumer:
- Female
- Male
Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTg4ODYy
Key Target
Audience
- Used Car Companies
- OEMs
- Multi-Brands
- Online Used Car Portals
- Used Car Financing Companies
- Government Bodies
- Investors & Venture Capital Firms
- Used Car Dealerships
- Used Car Industry
- Used Car Manufacturing Companies
- Used Car Distributors
- Used Car Auction Houses
- Used Car Associations
Time Period
Captured in the Report:
- Historical Year: 2017–2021
- Base Year: 2021
- Forecast Period: 2021–2026F
Companies
Covered:
Online
Auto-Classified
- Expatriates
- Expat
- Haraj
- Opensooq
- Mourjan
- YallaMotors
- Motory
- SellAnyCar
- Syarah
- CarsSwitch
- Carnab
- OLX
- Saudisale
- Halta2ee
Second
Hand Car Distributors Saudi Arabia
Major
Auction Companies
- Abdulla Fouad Company of Public Auctions Car
Sales
- Sultan Nasser Auctioneers Est
- AutoWorld (AKA Al Jazira Equipment Co.Ltd)
- Saud Qahtani Auction Company
- Motory
- Syarah
- Mozayada
- budgetsaudi
- Mazadhala
Major
Finance Institution
- Alinma Bank
- Riyad Bank
- ANB Leasing Bank
- Emirates NBD Auto Lease Bank
- Al Rajhi Bank
- National Commercial Bank
- Saudi Investment Bank
- Bank Albilad
- Al Yusr
- Taajeer Finance Company
- Abdul Latif Jameel
- Al-Tayseer Car Finance
Major
Finance Institution
- Abdul Latif Jameel
- Aljomaih Automotive Company
- Al Jazirah Vehicle
- Mohamed Yousuf Naghi
- United Motors Company
- Universal Motors Agencies
- SAMACO Automotive
- Petromin Stellantis
Multi
Brands Used Car Platforms in Saudi Arabia
Key Topics
Covered in the Report
- KSA Automotive Market Overview
- KSA Used Car Market Overview
- KSA Online E-commerce Used Car Market
- Market Ecosystem
- Value chain Analysis
- Customer Buying Journey in KSA
- Decision Making Parameters for Customers
- Offline and Online Business Models
- Detailed Analysis on KSA Used Car Market
(Market Size, 2021; Market Structure; Market Segmentations; Competition;
Future Market Size, 2026; Future Trends and the Way Forward
- Snapshot on Online Used Car Platforms in KSA
- Snapshot of Used Car Auction House in KSA
- Snapshot of Used Car Finance Market in KSA
- Business Opportunity (Customer Profile
Analysis)
- Recommendations (Sales and Marketing
Strategies, Positioning Strategies, Business Framework)
Related
Reports
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
