Growth of the Used Car Market

Saudi Arabia’s used car market is witnessing robust growth, projected to reach USD 6.41 billion in 2024. Factors driving this surge include increased vehicle quality, rising demand among expatriates, and the digital transformation of the automotive retail sector.

Online platforms and e-commerce solutions are making it easier for consumers to buy and sell used vehicles, contributing to greater transparency and market efficiency. This sector plays a vital role in meeting the transportation needs of middle-income buyers and supporting the Kingdom’s overall automotive ecosystem.

In addition, government regulations now ensure better standards and certification for pre-owned vehicles, boosting buyer confidence. Dealerships and startups are investing in AI-based inspection and pricing tools, improving trust and fairness in transactions. The used car sector is also seen as an entry point for broader EV adoption, as affordable second-hand electric vehicles become more available.