Saudi arabia passenger car market forecast & opportunities, 2024 by David Johnson

Published: June 2019 Market Intelligence . Consulting

2014 - 2024 SAUDI ARABIA PASSENGER CAR MARKET FORECAST & OPPORTUNITIES

Ta b l e o f C o n t e n t s S. No.

Contents

Product Overview

Research Methodology

Analyst View

Voice of Customer

4.1.

Factors Influencing Purchase Decision

4.2.

Influencer of Purchase

4.3.

Aided Brand Recall

4.4.

Unaided Brand Recall

4.5.

Brand Switching Attributes

4.6.

Brand Satisfaction Level

Saudi Arabia Passenger Cars Market Outlook 5.1.

Market Size & Forecast 5.1.1.

5.2.

By Value & Volume

Market Share & Forecast 5.2.1.

By Vehicle Type (Hatchback, Sedan, MPV, Pickup and SUV)

5.2.2.

By Fuel Type (Petrol, Diesel and Others)

5.2.3.

By Transmission Type (MT and AT)

5.2.4.

By Company

5.3.

Market Attractiveness Index (By Fuel Type)

5.4.

Market Attractiveness Index (By Transmission Type)

Saudi Arabia Sedan Car Market Outlook 6.1.

Market Size & Forecast 6.1.1.

6.2.

By Value & Volume

Market Share & Forecast ÂŠ TechSci Research

Ta b l e o f C o n t e n t s S. No.

Contents 6.2.1.

By Engine Capacity (<1600cc, 1600-2000cc, 2001-2400cc, >2400cc)

6.2.2.

By Fuel Type (Petrol, Diesel and Others)

6.2.3.

By Transmission Type (MT, AT)

6.3.

Market Attractiveness Index (By Engine Capacity)

6.4.

Market Attractiveness Index (By Transmission Type)

6.5.

Market Attractiveness Index (By Fuel Type)

Saudi Arabia SUV Car Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

By Value & Volume

Market Share & Forecast 7.2.1.

By Engine Capacity (<1800cc, 1801-2400cc, >2400cc)

7.2.2.

By Fuel Type (Petrol, Diesel and Others)

7.2.3.

By Transmission Type (MT, AT)

7.3.

Market Attractiveness Index (By Engine Capacity)

7.4.

Market Attractiveness Index (By Transmission Type)

7.5.

Market Attractiveness Index (By Fuel Type)

Saudi Arabia Pickup Car Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

By Value & Volume

Market Share & Forecast 8.2.1.

By Engine Capacity (1600-2400cc, >2400cc)

8.2.2.

By Fuel Type (Petrol, Diesel and Others)

8.2.3.

By Transmission Type (MT, AT) ÂŠ TechSci Research

Ta b l e o f C o n t e n t s S. No.

Contents 8.3.

Market Attractiveness Index (By Engine Capacity)

8.4.

Market Attractiveness Index (By Transmission Type)

8.5.

Market Attractiveness Index (By Fuel Type)

Saudi Arabia MPV Car Vehicle Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

10.

By Value & Volume

Market Share & Forecast 9.2.1.

By Engine Capacity (1400-1800cc and >1800cc)

9.2.2.

By Fuel Type (Petrol, Diesel and Others)

9.2.3.

By Transmission Type (MT, AT)

9.3.

Market Attractiveness Index (By Engine Capacity)

9.4.

Market Attractiveness Index (By Transmission Type)

9.5.

Market Attractiveness Index (By Fuel Type)

Saudi Arabia Hatchback Vehicle Market Outlook 10.1.

Market Size & Forecast 10.1.1.

10.2.

By Value & Volume

Market Share & Forecast 10.2.1.

By Engine Capacity (1200-1600cc, <1200cc and >1600cc)

10.2.2.

By Fuel Type (Petrol, Diesel and Others)

10.2.3.

By Transmission Type (MT, AT)

10.3.

Market Attractiveness Index (By Engine Capacity)

10.4.

Market Attractiveness Index (By Transmission Type)

10.5.

Market Attractiveness Index (By Fuel Type) ÂŠ TechSci Research

Ta b l e o f C o n t e n t s S. No.

Contents

11.

Import-Export Analysis

12.

Supply Chain Analysis

13.

Market Dynamics 13.1.

Drivers

13.2.

Challenges

14.

Policy & Regulatory Landscape

15.

Market Trends & Developments

16.

Saudi Arabia Economic profile

17.

Competitive Landscape 17.1.

Toyota Motors Corporation

17.2.

Hyundai Motor Company

17.3.

Mazda Saudi Arabia

17.4.

Nissan Motor Co. Ltd

17.5.

General Motors Co.

17.6.

Ford Middle East

17.7.

Kia Motors Corp

17.8.

Isuzu Motors Saudi Arabia Co. Ltd.

17.9.

Volkswagen AG

17.10.

Renault Middle East

18.

Strategic Recommendations

19.

About us & Disclaimers

Product Overview

Product Definition As per the Organisation for Economic Co-operation and Development (OECD), passenger car is defined as “A road motor vehicle, other than a motorcycle, intended for the carriage of passengers and designed to seat no more than nine persons (including the driver)” Product Classification Passenger Car Vehicle Segment

Engine Capacity

Hatchback

<1200, 1200-1600, >1600

Sedan

<1600,1600-2000,20012400, >2400

MPV

1400-1800, >1800

Pickup

1600-2400, >2400

SUV

<1800, 1801-2400, >2400

Fuel Types

• • •

Petrol Diesel Others

• • •

Petrol Diesel Others

• • •

Petrol Diesel Others

• • •

Petrol Diesel Others

• • •

Petrol Diesel Others

Transmission

•

Manual Transmission Automatic Transmission

•

Manual Transmission Automatic Transmission

•

Manual Transmission Automatic Transmission

•

Manual Transmission Automatic Transmission

•

Manual Transmission Automatic Transmission

•

Research Methodology Market Profiling •In-depth secondary research was conducted to determine top players in the Saudi Arabia passenger car market, overall market size and segmental market sizes.

Data Collection

Research & Intelligence

Data Filter & Analysis

Actionable Insights

Business Solution

Formulating Questionnaire

•In order to conduct industry experts interviews, TechSci Research formulated a detailed questionnaire.

❑ Identifying Key Opinion Leaders

Developing List of Respondents

❑ Questionnaire Design ❑ In-depth Interviews

•List of industry players, distributors, industry specialists was developed.

and

❑ Recent Developments

A Primary Research

Data Collection •TechSci Research conducted interviews with industry experts, industry players, for data collection and verification. Data Validation •Data obtained as a result of primary and secondary research was validated through rigorous triangulation. Data Analysis •The data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, average, etc., to obtain qualitative and quantitative insights about the Saudi Arabia passenger car market.

❑ Market Participants

Company Analysis

❑ Market Changing Aspects/Dynam B ics Desk Research ❑ Government Policies ❑ Final Conclusion

❑ Key Strengths ❑ Commercial Vehicle Portfolio Primary Research ❑ ❑

LinkedIn TechSci Internal database

Secondary Research ❑ ❑ ❑ ❑ ❑ ❑ ❑

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body, Associations, etc.

Paid Sources ❑ ❑

Factiva Hoovers

Research Methodology

Baseline Methodology: For the study, TechSci Research has gathered information through primary research surveys with leading passenger car companies operating in Saudi Arabia. We have also put through an exhaustive search of credible paid databases such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of Saudi Arabia passenger car market. While compiling the data, we have also cross-checked all the collected information from multiple sources and data warehouses, so as to present the most accurate and precise information of the concerned industry.

Sampling Technique: While conducting the study, TechSci Research followed the stratified random sampling technique to shortlist the Key Opinion Leaders (KOLs) in various commercial vehicle companies/dealers & distributors operating in Saudi Arabia. KOLs based out of prominent commercial vehicle companies/dealers & distributors were interviewed to identify the size of Saudi Arabia passenger car market.

Sample Size: KOLs Mid to Senior Management, Sales Managers, etc., of passenger car companies/ dealers & distributors

No. of Respondents

Industry Experts

Total

ÂŠ TechSci Research

Research Methodology

Market Size Calculation Technique: Primary Research For the preparation of Saudi Arabia passenger car market report, bottom-up model has been used, which has been later cross validated by using top-down approach. TechSci Research interviewed Senior Managers and Regional Sales Managers of the prominent passenger car companies/dealers & distributors using Delphi technique for calculating the size of Saudi Arabia passenger car market. Respondents were also asked about the current and future growth rates, market share by passenger car types, etc. All the information gathered was carefully analyzed. Data points which exhibited high deviations from the majority estimates were eliminated as outliers and the remaining refined data points were put together to arrive at the volume data.

Primary Research â&#x20AC;&#x201C; Few of the Companies and/or their Dealers Interviewed S. No.

Names of Companies and/or their Dealers Interviewed Company

Distributor

Toyota Motor Corporation

Abdul Latif Jameel Motors

Nissan Motor Co., Ltd.

Khaled Juffali Company and Alissa Auto

Hyundai Motor Company

Mohammed Yousuf Naghi Motors Co., Almajdouie Motors & Wallan Trading Company

KIA MOTORS CORP

ALJABR Automotive

ÂŠ TechSci Research

Research Methodology Secondary Research: We have also put through an exhaustive search of credible paid databases such as Factiva, Hoovers, etc., in addition to our internal database. Further analysis of credible publications, white papers, company’s annual reports, investor presentations, news articles, etc., were also analyzed to cross validate the end findings derived from primary research. S. No.

Few of the Secondary Sources

Organisation Internationale des Constructeurs d’Automobiles (OICA)

The Central Department of Statistics and Information of Saudi Arabia

Ministry of Haj & Umra, Saudi Arabia

World Bank

International Monetary Fund (IMF)

Forecasting Technique: The team has developed forecast on the basis of econometric and judgemental analysis in addition to statistical techniques such as averaging and geometric mean. During primary research interview, questions regarding historical sales trend of passenger car market were put forward. Respondents were asked about the current and future growth rates, market share by commercial vehicles type in Saudi Arabia. In order to forecast passenger car market, following forecast techniques were used:

I N D U S T RY B R I E F According to TechSci Research report, “Saudi Arabia Passenger Car Market By Vehicle Type, By Fuel Type, By Transmission Type, Competition, Forecast & Opportunities, 2024”, the passenger car market in Saudi Arabia is anticipated to grow at a CAGR of over 16% to surpass $ 28 billion by 2024 on account of increasing number of CKD plants and rising per capita income in the country. Moreover, improved road infrastructure and lower cost of fuel are positively influencing the growth of the market. Furthermore, as part of the Saudi Arabia 2030, Kingdom of Saudi Arabia is focusing on setting up domestic automotive industry which is further anticipated to aid the growth of the market during forecast period.

Saudi Arabia passenger car market can be segmented based on vehicle type, fuel type and transmission type. Based on the vehicle type, the market can be segmented into hatchback, sedan, MPV, pickup and SUV. Sedan is the major vehicle segment in the market and is poised to grow at an impressive rate during forecast period as well due to high mileage, high performance and comfortable riding experience offered by sedan when compared with counterparts. Toyota Motors Corporation, Hyundai Motor Company, Mazda Saudi Arabia, Nissan Motor Co. Ltd, General Motors Co., Ford Middle East, Kia Motors Corp, Isuzu Motors Saudi Arabia Co. Ltd., Volkswagen AG, Renault Middle East, among others are the leading players operating in the Saudi Arabia passenger car market. The companies operating in the market are using organic strategies such as product launches, and mergers and collaborations in order to register positive growth in the market. For instance, Toyota is the leading passenger car company in the country on account of easy finance options, better after-sales service and high performance vehicles.

“Passenger car market in Saudi Arabia is anticipated to grow at a significant pace during the forecast period on account of availability of easy finance options at impressive interest rates, focus of government on setting up domestic automotive industry and increasing per capita income. Additionally, upliftment of ban from women driving vehicle would further positively influencing the growth of Saudi Arabia passenger car market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. © TechSci Research

S A M P L E D ATA - S N A P S H O T Saudi Arabia Passenger Car Market, By Value (USD Billion), By Volume (Thousand Units), 2014-2024F CAGR 2019E-2024F CAGR 2014-2018 By Value: xx% By Volume: xx%

By Value: xxx% By Volume: xxx%

Value (USD Billion)

Volume (Thousand Units)

Saudi Arabia MPV Car Market Share, By Engine Capacity, By Volume, 2014-2024F 60.00%

60.00%

40.00%

2014

2015

2016

2019E

2020F

2023F

2024F

2017 2018 1400-1800cc

2021F 2022F >1800cc

Saudi Arabia Hatchback Car Market Share, By Fuel Type, By Volume, 2014-2024F

50.00%

30.00%

20.00%

2014

2015

2016

2017

2018

2019E

2020F

2021F

2022F

2023F

2024F

Petrol

Diesel

R E PO RT O R D E R I N G Report Name : SAUDI ARABIA PASSENGER CAR MARKET FORECAST & OPPORTUNITIES 2014 - 2024

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TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business

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models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research. © TechSci Research