Saudi Arabia Used Car Market Forecast 2026

2016 –2026 SAUDI ARABIA USED CAR MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report Product of Interest (POI): Used Car Ausedcar, a pre-owned vehicle, or a second-hand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales. Some car retailers offer "no-haggle prices," "certified" used cars, andextendedservice plansor warranties. Market Segmentation USED CAR MARKET VEHICLE TYPE REGION Year Range • Small Cars • Northern & Central • Mid-Size Cars • Southern • Luxury Cars • Eastern Review Period • Western 2016 – 2019 FUEL TYPE END USE Base Year • Petrol/Gasoline • Institutional 2020 • Diesel • Individual Estimated Year • Others 2021 Forecast Period 2022 – 2026 2

Table of Contents Table of Contents S. No. Contents Page No. 1. Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) 2. Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.) 3. Executive Summary 4. Voice of Customer Saudi Arabia Used Car Market Outlook, 2016-2026F (This chapter includes a brief 5. overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) Market Size & Forecast (This chapter would include the market size i.e., the revenue 5.1. generated from the United States used car market in one year. In this case, the market size will be provided in value terms for historic period (2016-2019); current/base year (2020); estimated year (2021E); and forecast (2022-2026)) 5.1.1. By Value & Volume 5.2. Market Share & Forecast 5.2.1. By Vehicle Type (Small Cars, Mid-Size Cars & Luxury Cars) 5.2.2 By End Use(Institutional, Individual) 5.2.3. By Fuel Type (Petrol/Gasoline, Diesel, others) 5.2.4. By Company (2020) 5.2.5. By Region 5.3. Market Map (By Vehicle Type and By Region) 3 3

Table of Contents Table of Contents S. No. Contents Page No. 6. Saudi Arabia Small Used Car Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By End Use 6.2.2. By Fuel Type 6.2.3. By Region 6.3. Market Map (By Vehicle Type and By Region) 7. Saudi Arabia Mid-Size Used Car Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By End Use 7.2.2. By Fuel Type 7.2.3. By Region 7.3. Market Map (By Vehicle Type and By Region) 4 4

Table of Contents Table of Contents S. No. Contents Page No. 8. Saudi Arabia Luxury Car Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By End Use 8.2.2. By Fuel Type 8.2.3. By Region 8.3. Market Map (By Vehicle Type and By Region) 9. Market Trends & Developments 10. Pricing Analysis & Product Benchmarking 11. Saudi Arabia Economic Profile 12. Impact of COVID-19 on Saudi Arabia Used Car Market 13. Competitive Landscape 13.1. Competition Outlook 13.2. Company Profiles (Leading Companies) 5 5

Table of Contents Table of Contents S. No. Contents Page No. 13.2.1. Company Details 13.2.2. Products & Services 13.2.3. Financials (As Reported) 13.2.4. Key Market Focus & Geographical Presence 13.2.5. Recent Developments 13.2.6. Key Management Personnel 14. Strategic Recommendations 15. About Us & Disclaimer 6 6

RESEARCH METHODOLOGY

Research Methodology Market Formulating Developing List Data Data Data Profiling Questionnaire of Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine top players in interviews, TechSci specialists was industry experts and and secondary tools and internal the Saudi Arabia used car formulated a detailed developed. industry players for research was proprietary database to market, overall market size discussion guide. data collection and validated through obtain qualitative and and segmental market size. verification. rigorous quantitative insights about triangulation. the Saudi Arabia used car market. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Leaders Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. 8

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Saudi Arabia used car market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing focus of automakers towards setting up used car networks in different parts of the country. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in this market. Methodology Followed forCalculation of Market Size: • Market Size By Value and Volume: Market size, in terms of value and volume, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as used car suppliers, channel partners, market influencers & end users, industry experts, and other industry participants. • The team interviewed more than 45 – 50 used car suppliers, 45 – 50 channel partners, and 15 – 20 industry experts and other value chain stakeholders in Saudi Arabia used car market to obtain the overall market size for 2016-2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2016-2020. 9

Research Methodology • Respondents were asked about the current and future market growth rates, market shares by vehicle type, by end use, by fuel type, by company, and by each region. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segmentswerefurthertriangulated from other stakeholders. Methodology Followed forCalculation of Market Shares: Market shares by vehicle type, by end use, by fuel type, by company, and by each region were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of used car market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed forForecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/TableauSoftware. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Saudi Arabia usedcarmarket,TechSciResearchusedvariousforecasttechniquessuchas: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis 10

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also usedtheimpactanalysisduringshort, mediumandlongtermperiodtoestimatethedemandandtoreachaccuratemarketnumber. Partial List of Companies Interviewed Key Secondary Sources ▪ Kayishha ▪ Organisation Internationale des Constructeurs ▪ Yallamotor d'Automobiles ▪ SaudiSale ▪ World Bank ▪ Abdul Latif Jameel Motors ▪ TechSciResearch Proprietary Database & Knowledge ▪ Abi Sayara Repository ▪ OlxSaudi Arabia (Dubizzle) ▪ Company Annual Reports ▪ Carmudi.com ▪ Industry Magazines ▪ Copart Inc. ▪ Industry Reports ▪ News Dailies ▪ Credible Paid Databases 11

Industry Brief Extremeweatherconditions and rising youth population is expected to drive the Saudi Arabia used car market throughout the forecast period. According to TechSci Research report, “Saudi Arabia Used Car Market By Vehicle Type (Small Cars, Mid-Size Cars & Luxury Cars) By End Use (Institutional Vs Individual) By Fuel Type (Petrol, Diesel & CNG), By Region, Company Forecast & Opportunities, 2026”, Saudi Arabia used car market is expected to grow at a steady rate during the forecast period. The rise in presence of the youth population who are under 30 years of age is generally not capable of buying new cars thereby accelerating the demand for the used car in the region. Government authorities hiked the price of VAT from 5% to 15%, which impacted the cost of buying a new vehicle tremendously. Interested consumers traded their existing cars with the newoneswhich resulted in surplus sales of used cars. Saudi Arabian women are now allowed to drive vehicles on their own due to the removal of the ban on women driving and rising numbers of women driving their own cars are paving the way for the used car market growth as they are more cost-effective than the new cars. Launch of government initiatives to support the sales of fuel-efficient vehicles and offer an incentive program to authorized dealers. Original equipment service providers along with dealers are providing offers and certifications on used cars which are expected to boost the sales of used cars. Also, the offering of pre- and post-purchasing options along with options of value-added services is expected to attract consumers in buying the used car in Saudi Arabia. The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities-imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. The government imposed the closure of shopping malls, restaurants, and public parks. The growing economy faced a setback which resulted in lower used car sales. Stores were temporarily shut down and disruption in the supply chain was observed which impacted the used car sales marketadversely. However, the introduction of VAT by leading authorities is aiding to increase the general pricing and decrease the purchasing power of consumers subsequently which may pose a challenge in the growth of Saudi Arabia used car market. Saudi Arabia used car market is segregated into vehicle type, end use, fuel type, regional distribution, and company. Based on vehicle type, market can be divided into small cars, mid-size cars & luxury cars. The luxury cars vehicle type segment is expected to account for major market share for the forecast period, 2022-2026. Consumer preference shift towards owning a vehicle and increasing affordability are driving the growth of this segment. High demand for SUVs and crossover is suitable for both hot and harsh climatic conditions and have relatively longer ownership period than the other cars. On the basis of regional analysis, the northern & central region is expected to witness growth in the next five years due to presence of large pool of youth population and working consumers who are able to afford the used cars. Kayishha, Yallamotor, SaudiSale, Abdul Latif Jameel Motors, Abi Sayara, Olx Saudi Arabia (Dubizzle), Carmudi.com, Copart Inc., among others are some of the leading players operating in Saudi Arabia used car market. Companies operating in the market are using strategies such as joint ventures, product launches, mergers, and research collaborations to boost their share and increase their geographic reach. “The growth of the e-commerce industry for selling used cars in Saudi Arabia is creating lucrative opportunities for the growth of the market as major players are openly providing customer-friendly interface along with the plethora of options to choose from by the listing of used car inventory online. To tap more consumers and widen the reach of cars, authorized dealers are engrossing themselves to make their presence online such as the launch of an e-commerce car service platform named SyarahOnline, which sold a large number of used cars. Market players are offering discounts along with the facility of online end-to-end transactions without having the hassle to visit the showrooms is expected to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 12

Sample Data -Snapshot Saudi Arabia Used Car Market Size, By Value (USD Million) & By Volume (Million Unit), 2016–2026F 15.00 12.00 13.00 14.00 110.00 9.00 10.00 11.00 80.00 90.00 100.00 6.00 7.00 8.00 50.00 60.00 70.00 5.00 20.00 30.00 40.00 10.00 2016 CAGR By Value & Volume 2020 2021E CAGR By Value & Volume 2026F XX% By Value (USD Million) YY% By Volume (Million Units) Saudi Arabia Used Car Market Share, By Vehicle Type, Saudi Arabia Used Car Market Share, By End Use, By Volume, By Volume, 2016–2026F 2016–2026F Small Cars Mid-Size Cars Luxury Cars 2026F 34% 33% 33% Individual 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%50% 2025F 34% 33% 33% 2024F 34% 33% 33% 2023F 34% 33% 33% 2022F 34% 33% 33% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%50% 2021E 34% 33% 33% Institutional 2020 34% 33% 33% 2019 34% 33% 33% 2018 34% 33% 33% 2017 34% 33% 33% 2016 34% 33% 33% Saudi Arabia Small Used Car Market Share, By Region, By Volume, 2016–2026F Western Region Northern & Central Region Eastern Region Southern Region 2026F 25% 25% 25% 25% 2025F 25% 25% 25% 25% 2024F 25% 25% 25% 25% 2023F 25% 25% 25% 25% 2022F 25% 25% 25% 25% 2021E 25% 25% 25% 25% 2020 25% 25% 25% 25% 2019 25% 25% 25% 25% 2018 25% 25% 25% 25% 2017 25% 25% 25% 25% 2016 25% 25% 25% 25% 13

Report Ordering Report Name: SAUDI ARABIA USED CAR MARKET FORECAST & OPPORTUNITIES 2016 – 2026 License Type Price Single User License $3500 Multi-User License $4500 Custom Research License $7500 To View Sample OR Purchase Report 14

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