Expansion in the automotive sector contributed to the entry of car market in Saudi Arabia to the 20 position in the world

Due to its significant contribution to economic growth, the automotive industry in Saudi Arabia is one of the most significant commercial endeavors in the nation and a key pillar of the national economy. The market for new and secondhand cars is more than 700,000 vehicles of various makes and models annually. 

The General Authority for Statistics (GASTAT) reports that over a million new and secondhand cars and carriages worth an estimated SR83 billion were imported into Saudi Arabia in 15 months (2023 and the first quarter of 2024) from over 51 countries. 

Based on studies on car markets worldwide, the American study "Focus to Move" ranks the Saudi Arabian car market as the largest in the Arab world. According to the research, there were more than 1.7 million automobiles sold in 2022 of all makes and models, with 36% of those sales occurring in Saudi Arabia, up over 7.1% from the year before. The UAE came in second with a rate of 12.7%, and Egypt came in third with a rate of 10.9%. The research verified that Saudi Arabia's automobile market's admission into the top 20 global vehicle markets was facilitated by the growth of the automotive industry.