Saudi Arabia Used Car Market Outlook to 2026F
Driven by Boom in Online Platforms and increase in internet and smartphone penetration
Region:Middle East
Author(s):Aishwarya Kochhar, Pallavi Gupta
Product Code:KR1190
August 2022
115
About the Report
KSA Used Car Market Overview and Size
KSA Used Car Market Segmentations
By Sales Channel: The unorganized sector contributed to the majority of the sales of used cars in the country. This higher preference for the Unorganized sector was because used cars are cheaper on this platform and customers save 15% VAT charged by Organized players. Over time preference towards organised is increasing due to more convenient buying experience and value-added services (warranty, certification).
By Type of Cars: Sedans and hatchbacks were observed to dominate the used car market on the basis of sales volume as they are economical and suitable for almost all kinds of buyers. SUVs & crossovers were found to be the second most preferred types of cars in the country and pick-ups & luxury cars contributed to the remaining sales.
By Car Brands: Toyota continues to dominate the used car market in Saudi Arabia due to the higher preference of the consumers towards the brand for its reliability and low maintenance. Also, the easy availability of spare parts and the higher residual value of Toyota cars contribute to higher sales. Hyundai contributed to the second-highest sales volume in 2021
By Age of Vehicle: Three to five-year-old used cars were observed to dominate the used car sales in the country in 2021. As the instalment period for cars purchased on finance is around 3-5 years after which people usually prefer to sell off their cars. 1-3-year-old vehicles contributed to the second-highest sales volume as a large number of these cars found their way to the used car market when car rental companies de-fleet their existing fleet.
By Kilometers Driven: A large proportion of the used cars sold in 2021 belonged to the category of 80,000-150,000 kilometres. Cars with a mileage of 50,000-80,000 kilometres were also largely preferred by the consumers due to their nearly new look and feel and are also economical.
By Regions: The central region including the capital of Riyadh accounted for the highest number of used car sales in the country in 2021 due to the concentration of the young working population in the region. The western region contributed the second-highest used car sales. Most of the major authorized dealers have multiple showrooms in these regions.
By Age Group of Buyers: The majority of the buyers in the used car market were observed to be in the age group 30-60 years. Many young working professionals, expatriates, and families owning multiple cars belong to this age group. The demand for used cars among the age group of 18-30 years is also increasing with increasing disposable income and job opportunities.
Saudi Arabia Organized Market Segmentation
Competitive Landscape of the KSA Used Car Market:
KSA E-Commerce Logistics Market Future Outlook and Projections
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 of 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 the Used Car Finance Market in KSA
- Business Opportunity (Customer Profile Analysis)
- Recommendations (Sales and Marketing Strategies, Positioning Strategies, Business Framework)
Products
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
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
- 1-2 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
Companies Covered:
Online Auto-Classified
- Expatriates
- Expat
- Haraj
- Opensooq
- Mourjan
- YallaMotors
- Motory
- SellAnyCar
- Syarah
- CarsSwitch
- Carnab
- OLX
- Saudisale
- Halta2ee
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
Table of Contents
1. Executive Summary
2. Country Overview
2.1 KSA Country Overview
2.2 KSA Key Demographics Indicators
3. Market Analysis
3.1 KSA Automotive Market Overview
3.2 Revenue Share of Major Car Brands in KSA
3.3 Passenger Car Landscape in KSA
3.4 Import and Export of Passenger Cars in KSA
3.5 Passenger Car Landscape
4. KSA Used Car Market Overview
4.1 Ecosystem of Major Entities in KSA Used Car Market
4.2 Overview and Genesis of KSA Used Car Market
4.3 Step-by-step sales process of Used Cars in KSA
4.4 Value Chain Analysis of KSA Used Car Industry
4.5 Role of Entities in Value Chain Analysis in KSA Used Car
4.6 Lead generation for used cars in KSA
4.7 Sourcing of used cars for dealers in KSA
4.8 KSA Used Car Market sizing analysis, 2017-2021P
5. KSA Automotive Market Segmentation
5.1 By Type of Market Structure, 2021 (Organized and Unorganized Sector)
5.2 By Type of Organised and Unorganised, 2021
5.3 By Type of Car, 2021 (Sedan, SUV and Hatchback)
5.4 By Brand, 2021 (Toyota, Hyundai, Ford etc.)
5.5 By Manufacturer, 2021
5.6 By Age of Vehicle, 2021 (5 years)
5.7 By Kilometres Driven, 2021 (<50,000Kms, 50,000-80,000KMS, 80,000-150,000Kms, >150,000Kms)
5.8 By Region, 2021 (Central, Western, Eastern, Southern and Northern)
6. Customer Profile of Used Car Market in KSA
6.1 Customer Analysis By Customer Age and By Gender, 2021
6.2 Customer Pain points in Used car industry
6.3 Decision Making Parameters for Customers
6.4 Key Factors and Price Determinants Influencing Used Car Purchasing Decisions
6.5 Findings on Consumer Analysis
7. Snapshot on Online Classified Used Car Platforms in KSA
7.1 Purchase Evolution of Used Car Platforms
7.2 Transactional platforms in Used Car industry
7.3 Used car journey on Online platforms in KSA
7.4 Existing Business Frameworks
7.5 Competition Scenario: Positioning of Auto Classifieds in KSA
7.6 Existing and Emerging Online Retails Models in KSA Used Car Market
7.7Cross Comparison of Major Online Auto-Classifieds
8. Snapshot on Used Car Auction Market in KSA
8.1 Ecosystem and Overview of KSA Used Car Auction Market
8.2 Comparison of Major Auction Market Players
9. Snapshot on Used Car Finance Market in KSA
9.1 Ecosystem and Overview of KSA Used Car Finance Market
9.2 Cross Comparison of Major Financial institutes
10. KSA Used Car Market Industry Analysis
10.1 SWOT Analysis of KSA Used Car Market
10.2 Trends and Recent Development's in the KSA Used Car Market
10.3 Issues and Challenges in the KSA Used Car Market
10.4 Buying Criteria of the customers in KSA Used Car Market
10.5 Selling Criteria Used by the Players in KSA Used Car Market
11. Competition Framework for KSA Used Car Market
11.1 Brand Perception Mapping of Major Players in KSA Used Car Market
11.2 Cross Comparison of Major OEMs (Inception Year, No. of Branches/Showrooms, Used Car Sales, Best Selling Model, Inventory, Warranty, Value added Services, Sourcing, Inspection Check, Online Presence Funding)
12. Covid-19 Impact on KSA Used Car Market
12.1 Covid-19 Impact on KSA Automotive Market
12.2 Covid-19 Impact on KSA Used Car Market
13. Outlook and Future Projections for KSA Used Car Market
13.1 Future Projections for KSA Used Car Market Size, 2021-2026F
13.2 Future Segmentation By Type of Market Structure, 2026F
13.3 Future Segmentation By Type of Car and Manufacturer, 2026F
13.4 Future Segmentation By Kilometres Driven and Age of Vehicle, 2026F
13.5 Future Segmentation By Region, 2026F
13.6 Future Trends and Way Forward
14. Analyst Recommendations
14.1 Take on Future Market Positioning
15. Case Study Analysis
15.1 International Case Study – CarSwitch
15.2 Operating model – CarSwitch (UAE)
15.3 International Case Study – CarsTrade (India)
15.4 Operating model – CarsTrade (India) International
15.5 Case Study – Cars24 (India)
15.6 Operating model – Cars24 (India)
Why Buy From Us?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.
If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.