Saudi Arabia Used Car Market Report, Market Growth Rate, Market Analysis, Market Revenue and Market Trends 2029

What Driving 10-15% Annual Growth in Saudi Arabia Used Car Market

Saudi Arabia is one of the fastest growing markets for used cars in the Middle East. The market was valued at USD 9.6 Bn in 2024 and is driven by combination of several economy, technology, and demography effects. The rising middle-class population are looking for budget-friendly transport solutions and they find used cars offering value for money as it becomes costlier to buy new cars. Increasing adoption of technology is impacting used car market as online platforms makes buyers and seller connect easily, enhancing the transparency and convivence. The market is also witnessing increasing investments in certified pre-owned (CPO) programs to provide consumers quality assurance with warranties and after-sales services.

Saudi Arabia Used Car Market Growth Drivers
• Increasing internet penetration in Saudi Arabia is driving online transactions. The used car market is witnessing increasing digital-first platforms that are revolutionizing consumers buying experience, offering finances, and providing doorstep delivery.

• Consumers are moving toward SUVs, which offer more comfort and versatility. SUVs made up roughly 60% of new car registrations. In 2024, SUVs accounted for around 60% of new car registration in 2024. This shift is influencing used car market due to the increasing demand for SUVs as they have high durability and resale value.

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• The Saudi Arabia's automotive sector is growing at annual rate of 6,8% as of 2024, highlighting the increased purchasing power among consumers. In 2024, Arab News reported that import of new as well as used cars saw an increase and annual car sales exceeded 700,000. This trend is leading manufacturers and dealers to launch competitive strategies and flexible financing options like zero-down-payment plans and low-interest-rate loans.

• The certified pre-owned (CPO) programs are expanding, providing consumers reliable pre-owned vehicles. The dealers are ensuring that a used vehicle is put under rigorous inspections, reconditioning, and sold with warranties.

Saudi Arabia Used Car Market Competition
The Saudi Arabia used car market is moderately fragmented and is mix of domestic players and global giants. The major players of the market are Yalla Motor, CarSwitch, and Halta2ee. YallaMotor offers listing for new and old cars along with the reviews and latest news. The platform had more than 10 million visitors in 2024. CarSwitch website received nearly 399,470 visits in 2024 with users spending an average of 10 minutes and 46 seconds per session, indicating strong engagement. Halta2ee is a leading online marketplace that enables seller to crete free ads to list their vehicle and also provide peer-to-peer listing. The Halta2ee app generated over 1 million downloads on the Google Play Store in January 2025. In upcoming years, used car market in Saudi Arabia will witness growing competition as AI-driven inventory management and e-commerce model by international players will disrupt traditional dealership sales.

Get an In-Depth Analysis of Saudi Arabia Used Car Market [2023-2029] @ https://www.tracedataresearch.com/industry-report/saudi-arabia-used-car-market

Recent News
September 2024: Syarah, major trading online platform, raised more than SAR 22 million thorough a group of investors in its recent Series C round. The round was conducted by Artal Capital, a Riyadh-based investment management company, via Artal Growth Opportunities fund.

Saudi Arabia Used Car Market Future Outlook
The Saudi Arabia used car market will grow steadily through 2029. The market will be shifting towards a more organised sales channels with share of organised dealers rising to 35% by 2029. The integration of AI-powered pricing models is likely to expand by banks and fintech firms. By 2029, the sale of used car market is expected to be highly digitalized and more structured. This will ensure greater transparency and affordability among consumers and businesses. Furthermore, government implementing strict rules and regulations by Saudi Standards, Metrology and Quality Organization (SASO) for right use and maintenance of used vehicles will govern the used car market in Saudi Arabia.

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Consultant at TraceData Research In their latest publication "Saudi Arabia Used Car Market Outlook to 2029: By Market Structure (Organized sector, Unorganized sector), By Ownership (Private Owners, Corporate Entities, Business Owners), and By Type of car (Sedan, SUV and Hatchback)" believe that businesses must adopt AI-powered pricing models and structured financing solutions along with certification for pre-owned vehicles to position themselves in the market.

Related Reports by Trace Data: -
Malaysia Used Car Market - https://www.tracedataresearch.com/industry-report/malaysia-used-car-market

Vietnam Used Car Market - https://www.tracedataresearch.com/industry-report/vietnam-used-car-market

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