Key Market Indicators
Saudi Arabia's vehicle registration is projected to surge to approximately 4.7 million units by 2028, up from about 1.8 million units in 2023. This growth represents a 14.4% compound annual growth rate (CAGR). Since 2010, the Saudi market has experienced a significant uptick, averaging a 34.5% year-on-year increase. In the 2023 rankings, Saudi Arabia secured the 24th spot globally, with Pakistan just ahead at nearly 1.8 million units. Meanwhile, Canada, China, and Austria occupied the second, third, and fourth positions, respectively, in the global rankings.
