Future Outlook of KSA Automotive Market: Ken Research

Automotive Industry in KSA has shown growth of CAGR of 3.5% during 2017-2022, says a report by Ken Research

1. Rebounding Strong: How Rising Consumer Sentiments Since the 2014 Oil Price Crisis are Driving a Resilient Economy Focused on Local Manufacturing and Efficient Digitization.

To know Demographics of KSA Citizens Supporting Automotive Industry: Click Here

A stable political environment under the current King & Crown Price. Saudi Vision 2030 launched under their leadership also provides a positive boost for investors.

Saudi Vision 2030 & the aim to reduce dependence on oil exports. Further investment by government into domestic manufacturing & assembly of automotive. Support from the government and development of automotive & spare part clusters to boost re exports & international sales.

Influx of female drivers stimulating demand for new & used vehicles leading to high vehicle ownership and rising propensity to spend.
Rising adoption of technologies such as WMS, VMS, RFID & GPS Tracking by Dealerships & car service centers to improve operational efficiency.

The harsh & hot climatic conditions of the Kingdom warrant frequent replacement periods of auto spare parts.
Lifting of ban on women drivers creating a favorable environment for the growth of automotives.

2. Gateway to the Kingdom: Jeddah Islamic and Dammam Ports Leading Imports with Easy Connectivity and Advanced Infrastructure Development.

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