The value of cars exported to the Kingdom in 2012 reached SR76.6 billion, which is an increase of 42 percent over 2011. The number of registered cars last year was 982,000.
The United States comes at the top of exporting countries for the second year in a row. For many years before 2011, Japan was the top country in relation to car exports.
A report by the general statistics department said Saudi car imports registered record numbers during 2012.
As for bank financing, Saudi Arabian Monetary Agency (SAMA) said the number of exported cars that are financed by Saudi banks increased during the first half of 2013 by 32 percent to SR28.16 billion, in comparison with SR21.31 billion last year.
The import bulletin of the central department of statistics for 2012 said Saudi car exports registered record numbers during 2012, with a 42 percent increase over 2011.
The number of exported cars reached 982,000, with 33 percent increase over 2011, when the Kingdom imported cars was 737,000.
The US maintained its leading position in car exports for the second year at a value of SR20.59 billion, overtaking Japan and Korea. It exported 215,000 cars. Korea came second with 207,000.
Japan used to take the lead in exporting cars to the Kingdom before 2011. Its car exports declined to second place 2012.
On the other hand SAMA said the number of cars that are financed by Saudi banks increased during the first part 2013 by 32 percent to SR28.16 billion in comparison with SR21.31 billion during the same period last year. Bank financing to private sector car imports have grown during the past three years.
Car trade in Kingdom: US stays ahead of Japan as top exporter
