KSA Automotive Market Sells Over 600,000 Cars in 2022 with a Blend of Imports and Domestic Production. What's Next for the Future of the Industry? : Ken Research
Automotive Industry in KSA has shown growth of CAGR of 3.5% during 2017-2022, says a report by Ken Research
1. Rebounding Strong: How Rising Consumer Sentiments Since the 2014 Oil Price Crisis are driving a Resilient Economy Focused on Local Manufacturing and Efficient Digitization.
To know Demographics of KSA Citizens Supporting Automotive Industry: Click Here
A stable political environment under the current King & Crown Price. Saudi Vision 2030 launched under their leadership also provides a positive boost for investors.
Saudi Vision 2030 & the aim to reduce dependence on oil exports. Further investment by government into domestic manufacturing & assembly of automotives. Support from the government and development of automotive & spare part clusters to boost re exports & international sales.
Influx of female drivers stimulating demand for new & used vehicles leading to high vehicle ownership and rising propensity to spend.
Rising adoption of technologies such as WMS, VMS, RFID & GPS Tracking by Dealerships & car service centers to improve operational efficiency.
The harsh & hot climatic conditions of the Kingdom warrant frequent replacement periods of auto spare parts.
Lifting of ban on women drivers creating a favorable environment for the growth of automotives.
2. Gateway to the Kingdom: Jeddah Islamic and Dammam Ports Leading Imports with Easy Connectivity and Advanced Infrastructure Development.
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3. Building for the Future: Saudi Vision 2030's Drive for World-Class Domestic Manufacturing and Export Facilitation in the MENA Region.
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Major Players Mentioned in the Report:
Car Dealerships:
AJL
Yusuf Naghi
Juffali
UMA
Spare Parts Retailers:
Speero
Atlobha
Odiggo
Ubuy
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Car Repair Service Centers:
Petromin
Auto Focus
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
KSA Car Dealerships
KSA Automotive Industry
KSA Automotive Workshops
KSA Spare Parts Retailers
KSA Automotive Logistic Service Providers
KSA Car Rental Players
KSA Car Leasing Players
KSA ERP Service Providers
KSA Ports Authority
Time Period Captured in the Report:
Historical Period: 2017-2022
Base Year: 2022
Forecast Period: 2022-2027
For More Insights On Market Intelligence, Refer To The Link Below: –
KSA Automotive Market
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