Saudi Arabia Used Car Market Overview
According to SPER Market Research, the Saudi Arabia Used Car Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
A vehicle that has had at least one prior owner is referred to as a used car, sometimes known as a second-hand car. These vehicles can range in age, mileage, and condition, and are often sold by dealerships or private parties. Used automobiles can be a more affordable option for people to buy a car because they are frequently less expensive than new cars and sometimes still have plenty of life left in them. When buying a used car, it's crucial to conduct thorough research and inspections before making a decision. This may include checking the vehicle's history report, looking for damage on the outside and inside, and giving it a test drive. The car should also be inspected by a mechanic to find any potential problems or necessary fixes.
In general, used automobiles can be a fantastic choice for people seeking for a reasonably priced and dependable vehicle. To make sure you're purchasing a good car that will suit your needs, it's crucial to exercise the essential prudence and due diligence. The used automobile industry in Saudi Arabia has expanded significantly over the past ten years as a result of factors like population growth, rising income levels, and a rising need for inexpensive transportation options. The market has also been stimulated by the young population of the nation, with a sizable portion of the population under 30.
Impact of COVID-19 on the Saudi Arabia Used Car Market
The COVID-19 epidemic has had a major effect on the world economy, which also includes Saudi Arabia's used car market. These are a few potential effects: Decreased demand: As a result of the pandemic, consumer confidence has declined, and many individuals may be reluctant to buy a second-hand car at this uncertain time. This may cause the market's demand for second hand cars to decline. Disruptions to the worldwide supply chain caused by the epidemic have resulted in a shortage of second hand cars on the market. Numerous nations have closed their borders, affecting the import of second hand cars into Saudi Arabia, which can lead to increased pricing. Economic slowdown: The pandemic has caused the economy in many nations, including Saudi Arabia, to slow down. It's possible that many people are having financial problems, which would reduce their disposable money and, in turn, reduce their desire to buy cars. Change in consumer preferences: As a result of the pandemic, more people are choosing private transportation over public transportation. The market's demand for used cars could rise as a result of this.
In overall, the COVID-19 pandemic has had a conflicting effect on Saudi Arabia's used car market, with certain aspects causing a decline in demand and others causing a rise. The pandemic's long-term implications on the market, however, are still uncertain and will depend on how things play out in the ensuing months and years.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Market Structure, By Type of Car, By Manufacturer, By Kms Driven, By Age of Vehicle, By Age of Consumer.
|
| Regions covered | Northern, Southern, Central, Western, Eastern
|
| Companies Covered | Autoworld, Carnab, Carswitch, Expact, Expatriates, Halta2ee, Haraj, Motory, Mourjan, OLX, Opensooq, Saudisale, Sellanycar, Syarah, Yallamotors
|
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
Saudi Arabia Used Car Market Segmentation:
1. By Market Structure:
- Auction Companies
- C2C
- Local Dealers
- Multi-Brand Non-Franchise Dealerships
- OEM Certified Dealers
- Organized Sector
- Unorganized Sector
2. By Type of Car:
- Luxury
- Pickup Trucks
- Sedan and Hatchback
- SUV
3. By Manufacturer:
- Chevrolet
- Ford
- GMC
- Hyundai
- Kia
- Nissan
- Toyota
4. By Type of Kms Driven:
- <50,000
- >150,000
- 50,000-80,000
- 80,000-150,000
- By Source of Age of Vehicle
- >5 years
- 1-2 Years
- 3-5 Years
5. By Age of Consumer:
6. By Region:
- Northern
- Southern
- Central
- Western
Key Topics Covered in the Report:
- Saudi Arabia Used Car Market Size (FY’2019-FY’2032)
- Overview of Saudi Arabia Used Car Market
- Segmentation of Saudi Arabia Used Car Market By Market Structure ( Auction Companies, C2C, Local Dealers, Multi-Brand Non-Franchise Dealerships, OEM Certified Dealers, Organized Sector, Unorganized Sector)
- Segmentation of Saudi Arabia Used Car Market By Type of Car ( Luxury, Pickup Trucks, Sedan and Hatchback, SUV)
- Segmentation of Saudi Arabia Used Car Market By Manufacturer ( Chevrolet, Ford, GMC, Hyundai, Kia, Nissan, Toyota)
- Segmentation of Saudi Arabia Used Car Market By Type of Kms Driven ( <50,000, >150,000, 50,000-80,000, 80,000-150,000)
- Segmentation of Saudi Arabia Used Car Market By Age of Vehicle ( >5 years, 1-2 years, 3-5 years)
- Segmentation of Saudi Arabia Used Car Market By Age of Consumer ( 18-34, 35-54, 55+)
- Statistical Snap of Saudi Arabia Used Car Market
- Growth Analysis of Saudi Arabia Used Car Market
- Problems and Challenges in Saudi Arabia Used Car Market
- Competitive Landscape in the Saudi Arabia Used Car Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Used Car Market
- Details on Recent Investment in Saudi Arabia Used Car Market
- Competitive Analysis of Saudi Arabia Used Car Market
- Key Players in the Saudi Arabia Used Car Market
- SWOT Analysis of Saudi Arabia Used Car Market
- Saudi Arabia Used Car Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Used Car Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Saudi Arabia Used Car Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudia Arabia Used Car Market
7. Saudi Arabia Used Car Market, By Market Structure, 2019-2032 (USD Million)
7.1 Auction Companies
7.2 C2C
7.3 Local Dealers
7.4 Multi-Brand Non-Franchise Dealerships
7.5 OEM Certified Dealers
7.6 Organized Sector
7.7 Unorganized Sector
8. Saudi Arabia Used Car Market, By Type of Car, 2019-2032 (USD Million)
8.1 Luxury
8.2 Pickup Trucks
8.3 Sedan and Hatchback
8.4 SUV
9. Saudi Arabia Used Car Market, By Manufacturer, 2019-2032 (USD Million)
9.1 Chevrolet
9.2 Ford
9.3 GMC
9.4 Hyundai
9.5 Kia
9.6 Nissan
9.7 Toyota
10. Saudi Arabia Used Car Market, By Type of Kms Driven, 2019-2032 (USD Million)
10.1 <50,000
10.2 >150,000
10.3 50,000-80,000
10.4 80,000-150,000
11. Saudi Arabia Used Car Market, By Source of Age of Vehicle, 2019-2032 (USD Million)
11.1 >5 years
11.2 1-2 Years
11.3 3-5 Years
12. Saudi Arabia Used Car Market, By Age of Consumer, 2019-2032 (USD Million)
12.1 18-34
12.2 35-54
12.3 55+
13. Saudi Arabia Used Car Market, By Region, 2019-2032 (USD Million)
13.1 Saudi Arabia Used Car Size and Market Share by Region (2019-2025)
13.2 Saudi Arabia Used Car Size and Market Share by Region (2026-2032)
13.3 Northern
13.4 Southern
13.5 Central
13.6 Western
13.7 Eastern
14. Company Profiles
14.1 Autoworld
14.1.1 Company details
14.1.2 Financial outlook
14.1.3 Product summary
14.1.4 Recent developments
14.2 Carnab
14.2.1 Company details
14.2.2 Financial outlook
14.2.3 Product summary
14.2.4 Recent developments
14.3 Carswitch
14.3.1 Company details
14.3.2 Financial outlook
14.3.3 Product summary
14.3.4 Recent developments
14.4 Expat
14.4.1 Company details
14.4.2 Financial outlook
14.4.3 Product summary
14.4.4 Recent developments
14.5 Expatriates
14.5.1 Company details
14.5.2 Financial outlook
14.5.3 Product summary
14.5.4 Recent developments
14.6 Halta2ee
14.6.1 Company details
14.6.2 Financial outlook
14.6.3 Product summary
14.6.4 Recent developments
14.7 Haraj
14.7.1 Company details
14.7.2 Financial outlook
14.7.3 Product summary
14.7.4 Recent developments
14.8 Motory
14.8.1 Company details
14.8.2 Financial outlook
14.8.3 Product summary
14.8.4 Recent developments
14.9 Mourjan
14.9.1 Company details
14.9.2 Financial outlook
14.9.3 Product summary
14.9.4 Recent developments
14.10 OLX
14.10.1 Company details
14.10.2 Financial outlook
14.10.3 Product summary
14.10.4 Recent developments
14.11 Opensooq
14.11.1 Company details
14.11.2 Financial outlook
14.11.3 Product summary
14.11.4 Recent developments
14.12 Saudisale
14.12.1 Company details
14.12.2 Financial outlook
14.12.3 Product summary
14.12.4 Recent developments
14.13 Sellanycar
14.13.1 Company details
14.13.2 Financial outlook
14.13.3 Product summary
14.13.4 Recent developments
14.14 Syarah
14.14.1 Company details
14.14.2 Financial outlook
14.14.3 Product summary
14.14.4 Recent developments
14.15 Yallamotors
14.15.1 Company details
14.15.2 Financial outlook
14.15.3 Product summary
14.15.4 Recent developments
15. List of Abbreviations
16. Reference Links
17. Conclusion
18. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
