Written by Cláudio Afonso | LinkedIn | X
Saudi Arabia registered, for the first time ever, over one million vehicles in one year. One week before 2024 ended, a total of 1,000,201 new vehicles had been registered. The kingdom targets an annual production of over 300,000 vehicles this creating more than 27,000 jobs in the automotive sector.
Toyota was the best-selling brand, with 225,743 vehicles registered. The Japanese brand was followed by both Korean brands, Hyundai and Kia, with 144,970 and 57,223 registrations, respectively. Nissan ranked fourth with 47,063 vehicles and Suzuki completed the top five with 44,679 units.
Saudi Arabia automotive retail market was valued at $19.72 billion in 2023 and is projected to reach $74.74 billion by 2032 at a CAGR of 16.13% during the forecast period 2024–2032, AstuteAnalytica said in a new study released last November.
The Detroit carmakers Ford and General Motors registered 41,446 and 29,046 vehicles with GM figures including both GMC and Chevrolet brands.
The Saudi government has invested more than $5 billion to develop domestic automotive production facilities, including collaborations with global manufacturers such as Lucid Motors and Hyundai.
Changan led among Chinese automakers with 25,884 vehicle registrations, followed by Geely (19,899) and SAIC Motors, which includes MG and Maxus brands (19,144). Great Wall Motors, which encompasses GWM, Haval, and Tank brands, recorded 12,556 registrations, while Jetour and Chery registered 9,569 and 9,555 vehicles, respectively.
The Guangzhou-based GAC group rounded out the list of Chinese brands with 8,400 registrations.
Written by Cláudio Afonso | LinkedIn | X
