KSA Automotive Market Accelerates with ~100,000 Car Plates Issued in 2022, Propelled by Vision 2030 - What's on the Horizon for Saudi Arabia's Auto Industry?: Ken Research
The report covers Auto Industry KSA, KSA Automobile Market, Automotive Sector KSA, Motor Vehicle Market KSA, KSA Vehicle Industry, Auto Sector KSA, Number of Motor Vehicles Imported KSA, Number of Spare Parts Imported KSA, Number of New Car Sales, Number of Driving Licenses Holder, Number of Car Plates Issued, SUV Market KSA, KSA Sedans Industry, MPV Market Share KSA, KSA Trucks Segment Revenue, Motorcycle Sector Growth, Large Sedans Division KSA, Northern Automotive Sector KSA, Western Motor Vehicle Market KSA, Branded Auto Workshops Entities KSA, Opportunities KSA Auto Industry, Challenges Automotive Sector KSA, Leading Automotive Players KSA, Leading Players KSA Auto Industry, Competitors KSA Automobile Market, Emerging Players KSA Car Sector, AJL Market Share KSA, KSA Yusuf Naghi Market Share Juffali Revenue KSA, KSA UMA Revenue, Investment Car Market KSA, Fund Raised Startup in KSA.
Gurugram, India, July 04, 2023 (GLOBE NEWSWIRE) -- The *Automotive Market in KSA* is moderately fragmented with highly competitive rivalry among the competitors. Some of the popular Automotive brands like Petro Min, Saudi Parts Center Company and Atlobha compete on the basis of Price, Technology Advancement and Strong Acquisitions.
*1. Growth in Driving Licenses and Registered Cars across All Regions in Saudi Arabia with the Inclusion of Women Drivers*
· Makkah, Al-Riyadh & Eastern provinces accounts for the highest used & new vehicle sales in the Kingdom due to high population levels & influx of tourism all year around.
· Increasing monthly income in regions such as Al- Baha, Jazan, Al- Jowf, Al- Qasim & more highlighting the potential for higher demand for automobiles in the future.
· Since the restriction was lifted in 2018, more driving licenses have been issued to women.
· Northern borders only receive seasonal tourists due to hill stations, leading to a small number of registered vehicles.
· The Eastern province enjoys the benefit of ports & industrial growth, leading to the highest average household income & car plates issued.
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*2. How Saudi Vision 2030 and the Saudi Green Initiative are Boosting Vehicle Electrification*
Even though internal combustion engine (ICE) vehicles remain the dominant force in the Saudi Arabia (KSA) automotive market, there is still a significant opportunity for electric vehicle (EV) producers. Original Equipment Manufacturers (OEMs) are actively investing in improving the efficiency of their vehicles and offering competitive range options. The focus of both OEMs and the KSA government is on electrification, with ambitious targets set to reduce carbon emissions by 20%-40% by 2030.
The increasing consumer awareness, shifting perception towards environmentally-friendly transportation, and growing environmental concerns will be the driving factors behind the growth of EVs in KSA.
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*3. Revolutionizing Customer Service: Innovative Solutions and Quick Service Models to Tackle High Downtime Challenges in the KSA Automotive Market*
*Best Practices for the Quick Service Center Operations*
*Technically Equipped Team:- *To effectively manage these centers, a team that prioritizes extracting the most value in the least amount of time is essential. This requires providing technicians with intensive training and assignments to enhance their capacity to quickly comprehend different vehicles and perform diagnostics on them efficiently.
*Strategic Competitive Advantage:- *To address the issues of high prices, inconvenient locations, and slow service at agency quick centers, strategic placement of centers near major commercial areas in KSA like Dammam, Riyadh, Mecca, Hail, etc., and offering competitive prices (lower than competitors) is needed.
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*Building Brand value & Goodwill:- *Quick service centers contribute to establishing a reputable and recognized brand by assisting main centers with light maintenance services, reducing downtime for major repairs. To provide a premium experience for customers, it is crucial to improve waiting times through comfortable lounges and other services, aiming for a maximum wait time of 1 hour instead of 30 minutes.
*Market Taxonomy*
*KSA Automotive Market*
*KSA Automotive Market Segmentation*
*By Vehicle Type*
· SUV
· Sedans
· Pick-up Trucks
· Full Size Vans
· MPV
· Sports
*By SUVs Type*
· Small SUVs
· Large SUVs
*By Sedan Type*
· Large
· Medium
· Small
· Mini
*By Vehicle OEMs*
· Toyota
· Hyundai
· Changan
· Nissan
· KIA
· MG
· Mazda
· Isuzu
· Geely
· Chevrolet
· Others
*By Region*
· Central
· Eastern
· Northern
· Southern & Western
*KSA Automotive Import Segmentation*
*By Vehicle Type*
· Passenger Cars
· Trucks
· Buses & SPV Imports
· Motorcycle
*KSA Aftermarket Services Market Segmentation*
*By Entities*
· Branded Workshops
· Agency Repair (Dealerships)
· Un-Organized Workshops
*For more insights on the market intelligence, refer to below link:-*
*KSA Automotive Market*
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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
*Ankur@kenresearch.com*
+91-9015378249
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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249