Syarah.com, the leading auto vertical in Saudi Arabia, hit record sales numbers in June, partly due to increased adoption of its online car buying service, Syarah Online.

Syarah Online was first launched in 2018 as an “almost digital” car buying service. Since then, the company has expanded to used vehicles, which resulted in a sharp increase in car buying activity. Last month, the company sold 420 vehicles through Syarah Online at a total value of 25 million riyals ($6.6 million U.S.), a 150% month-on-month increase. In total, the company has sold 77,000 vehicles.

“Almost digital” services have become popular in many markets as a halfway point to fully-online transactions. The Covid-19 pandemic accelerated the rollout of these products as consumers grew wary of in-person visits. Syarah Online lets buyers browse available vehicles on the website and then put down a deposit to lock in their price. Unlike fully-online e-commerce platforms like Carvana, “almost digital” services still require an in-person visit to purchase the vehicle. Car buyers can use an app to track the process to check progress from booking until delivery.

Sayarah.com’s CEO, Omar Tahboub

“June’s increased demand on Syarah Online service in new and used car categories provides the company with stronger validation of the interest of Saudi car buyers in the online experience as the company works to scale up its online operation,” said Omar Tahboub, the deputy CEO of Syarah.com.

Syarah was founded in 2015 by Salah Sharef. Since then, it’s grown to become the No.1 auto vertical in Saudi Arabia. In 2018, Syarah raised $2 million U.S. in Series A funding, followed by an investment from Elm, a Saudi digital solutions company owned by Saudi Arabia’s Public Investment Fund, in 2019.

Print Friendly, PDF & Email

Related Articles