Saudi Arabia Used Car Market Size to Worth USD 16.80 Billion by 2033 | With a 6.43% CAGR

Saudi Arabia Used Car Market Overview

Market Size in 2024: USD 9.60 Billion

Market Size in 2033: USD 16.80 Billion

Market Growth Rate 2025-2033: 6.43%

According to IMARC Group's latest research publication, "Saudi Arabia Used Car Market Size, Share, Trends and Forecast by Vehicle Type, Sales Channel, Vendor Type, and Region, 2025-2033", the Saudi Arabia used car market size was valued at USD 9.60 billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 16.80 billion by 2033, exhibiting a CAGR of 6.43% from 2025-2033.

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Growth Factors in the Saudi Arabia Used Car Market

● Economic Diversification and Rising Disposable Income

Saudi Arabia's Vision 2030 initiative aims to diversify the economy. This plan cuts down on oil use. It also helps grow sectors like retail, tourism, and construction. As the economy shifts, more disposable income is available. This allows consumers to buy vehicles, especially affordable used cars. In cities like Riyadh and Jeddah, the growing middle class prefers pre-owned vehicles. They want to avoid the steep depreciation of new cars. Dealerships such as Aljomaih Automotive report increased sales of certified pre-owned vehicles. Buyers want affordable mobility that doesn't sacrifice quality. This reflects how economic growth drives demand for used cars among various demographics.

● Expanding Youth Population and New Drivers

Saudi Arabia's young population, with a median age of about 31, drives the used car market. Young professionals and first-time buyers prefer affordable used cars. This includes women who have been able to drive since 2018. Platforms like Syarah see more people wanting budget-friendly sedans and hatchbacks. The Toyota Yaris and Hyundai Accent are popular choices. Dealerships must focus on younger buyers. This shift is due to changing demographics and the need for better urban mobility. They offer flexible financing options, making used cars appealing to this growing market.

● Growth of Online Sales Platforms

Online platforms have changed the used car market. They make buying easier and more convenient. Sites like YallaMotor and Carswitch offer virtual tours, vehicle histories, and great prices. This attracts tech-savvy buyers. Syarah's vehicle restoration center in Jeddah helps with online sales. They offer quality pre-purchase inspections. These platforms give consumers what they want: transparency and ease. This helps the market grow by making purchases simpler. Digital sales have pushed traditional dealerships online to reach more customers.

Key Trends in the Saudi Arabia Used Car Market

● Rise of Certified Pre-Owned (CPO) Programs

Certified pre-owned (CPO) programs are becoming popular. Buyers now focus on reliability and transparency. Dealerships like Al-Futtaim Automotive's AutoTrust offer CPO vehicles. These come with verified service histories and limited warranties. They charge more for this assured quality. For example, a certified pre-owned Toyota Camry usually comes with a one-year warranty. This appeals to buyers who worry about unexpected repairs. This trend shows that consumers want trust in used car purchases. Organized dealerships put money into detailed inspections and reconditioning. This helps them stand out from the messy peer-to-peer market.

● Increasing Demand for SUVs and Practical Vehicles

SUVs are becoming more popular in the used car market in Saudi Arabia. Their versatility and cultural appeal attract many buyers. The Toyota Hilux and Hyundai Tucson are well-liked for their toughness. They can tackle various terrains easily. Corporate fleet renewals in Riyadh often put well-kept SUVs on the market. This helps meet the demand for spacious and reliable vehicles. Urban expansion and family-oriented lifestyles drive this trend. Dealerships are stocking more SUVs to meet this growing preference.

● Shift Toward Organized Dealerships

The used car market is shifting from unorganized peer-to-peer sales to organized dealerships. Consumer demand for convenience and added services drives this change. Organized vendors, such as Aljomaih Automotive, offer warranties, financing, and post-purchase maintenance. These benefits are not available in informal sales. Lumi Rental Company's used car outlet in Jeddah offers complete service packages. This attracts buyers who want a smooth experience. Government regulations also support this trend by promoting transparency. They urge consumers to pick organized channels. This leads to better quality and a more professional buying experience.

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Saudi Arabia Used Car Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Vehicle Type:

● Hatchback
● Sedan
● MUV and SUV

Analysis by Sales Channel:

● Online
● Offline

Analysis by Vendor Type:

● Organized
● Unorganized

Regional Analysis:

● Northern and Central Region
● Western Region
● Eastern Region
● Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined, along with the profiles of the key players.

Future Outlook

The used car market in Saudi Arabia is set to grow. This growth stems from economic diversification, urbanization, and tech advancements. Projects like Vision 2030, NEOM, and the Red Sea Project will increase the need for affordable transport in new cities. Online platforms are making buying easier. Companies like Carswitch use AI to enhance user experience. The rise of electric vehicles (EVs) may also increase the supply of used EVs due to new charging stations. Challenges, like counterfeit vehicles, still exist. But stricter regulations and certified pre-owned programs will help build trust with consumers. These factors will create a strong and active market through 2030.

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Research Methodology:

The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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