Car sales to grow by 10% in Saudi Arabia when women start driving: report

Saudi Arabia’s automobile market, which is the largest In the Middle East, is projected to grow 6-10 percent when women start driving in the Kingdom, Faisal Abushausha, chairman of the National Committee for Cars at the Council of Saudi Chambers, told Saudi Gazette on Monday.
 
Abushausha added that around 405,000 cars are expected to be sold this year as car dealerships and adverts target women drivers.

Automobile agents are offering interesting installment options with a profit margin of 7-10 percent on installment sales.

Saudi Arabia car imports reached 1.27 million in 2015 and declined to 897,700 in 2016 and to 605,800 in 2017, according to a previously published report by Al-Eqtisadiah Newspaper.

Moreover, last January, the first showroom for women was opened in Jeddah, where fuel-efficient cars have been displayed.

Having women driving in the Kingdom will generate job opportunities, especially in areas such as security control, traffic patrol, investigation, inspection, and even as taxi drivers after getting special license, as stated by the Traffic Department.

The Saudi insurance market, includes 35 insurance and re-insurance firms; 80 agents of international insurance firms; and 15 loss assessment firms, will also be a beneficiary, especially after suffering losses in the past years and with high rates of fatal accidents happen.