Will car sales in the Saudi market surpass 800,000 in 2023?

  • 1/8/2024
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The Saudi Arabian car market is on track to set a new record, with sales potentially exceeding 800,000 vehicles in 2023. According to statistics published on AlMuraba Net, the largest network specialized in car news and follow-up in the Saudi market, the market has already witnessed a sale of 547,873 cars in the first nine months of the year, surpassing last year"s figures for the same period by a significant margin. Leading the surge are Japanese and Korean car brands, with Toyota and Hyundai topping the sales charts. The list of best-sellers also includes Nissan, Kia, and Isuzu, along with American and Chinese contenders like Ford, Changan, and Geely. This diverse representation of global brands highlights the varied tastes and preferences of Saudi consumers. The year 2023 marks a notable shift in the market dynamics, with Chinese brands making a substantial impact, according to the Chinese Automotive Network website, which specializes in Chinese brands. Two Chinese manufacturers have broken into the top 10, signaling a change in consumer buying patterns and the competitive nature of the Saudi car market. Furthermore, the used car market in Saudi Arabia is reflecting these changes. A slight dip in prices has been observed through the Mstaml application, a popular platform for buying and selling used cars. Experts attribute this trend to the increased availability of in-demand models at dealerships, offering more choices to consumers. As the year progresses, the question on everyone"s mind is whether the Saudi car market will break the 800,000 sales barrier.

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