Market Trend and Outlook

Oman’s light vehicle market in September 2023 falls for the 9th month in a row, with new registrations at 4,093 (-31.2%). YTD figures at 41,498 are down 14.6% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Toyota is on top of the rankings with 47.4% market share and 19,667 sales (-9.0%) and a huge gap over all others.

In second place MG with 4,271 units sold (+14.7%), followed by the Hyundai reporting a strong loss in volume and accumulating 3,015 sales (+21.4%).

Looking at specific models the Toyota Hilux maintains leadership despite reporting a 35.5% year-on-year loss in sales, followed by the Toyota Land Cruiser up 8.7%.

Medium-Term Market Trend

Omani vehicles market was one of the fastest-growing worldwide in the period 2003-2013 and, at the end of a long series of annual all-time records, the market achieved a significant level of 213,000 sales in 2013.

Unfortunately, the economic crisis created by the fall of oil price in the international market and the persistently low level of this primary resource for the country economy severely hit the demand for consumers good, and the new vehicles market started a decline not yet ended.

Despite postponing the VAT introduction, the government has not been able to improve the economic trend, and even in 2019, the new light vehicles market has lost terrain. 

Due to the COVID-19 pandemic sales further fell in  2020 and in 2021 the recovery did not started with sales reaching the lowest level in the last 15 years at 74.700.

In 2022 Oman’s economic recovery is gaining traction, supported by revival in the hydrocarbon sector and the relaxation of Covid-19 social restrictions. High oil prices, continued fiscal consolidation under the authorities’ Medium Term Fiscal Plan, and determined implementation of structural reforms under Oman Vision 2040, are expected to generate fiscal and external surpluses and support higher growth over the medium term. However, heightened global uncertainties continue to cloud the outlook, with downside risks dominating in the short run.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

Market Trend and Outlook

The Qatari vehicle market in September 2023 falls for the 4th month this year, reporting 4,808 new registrations (-16.6%). YTD figures at 44,120 are down 0.2% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Toyota reports 14,249 sales (-8.4%) and 32.3% market share, far in front of Nissan with 3,160 units sold (-15.6%).

In third place ranks Land Rover -up 5 spots- with 2,950 sales (+99.9%) ahead of Leuxs in 4th with 2,923 new registrations (+109.1%).

Looking at specific models the Toyota Land Cruiser is the still best seller despite losing 23.5% from the previous year, followed by the Lexus LX with a huge 135.6% surge in sales.

Medium-Term Market Trend

Following a rapid development in the first years of this century, Qatari light vehicles market reached the all time record in the 2014, hitting the 100,000 milestone.

However, the fall of oil price in the international market and the consequent restrictive economic policy and new taxes (including VAT) introduction, hit the consumer demand and the market declined by the half in 2015-2019 period.

When Covid 19 restrictions limited the activities in 2020, the market fell down at the lowest in last 15 years at only 40.000 sales. However, the recovery was immediate in 2021, pushed by demand generated by the organization of FIFA World Championship.

Tables with sales figures

In the tables below we report sales for Top 10 Brands and Top 10 Models.

Emirates Automotive Market in September 2023 grows for the 11th month in a row, reporting 21,175 new registrations (+12.2%). YTD figures at 193,698 are up 20.2% from the previous year. Mitsubishi loses 49.5% in year-on-year sales.

Market Trend and Outlook

Emirates vehicle market in September 2023 grows for the 11th month in a row, reporting 21,175 new registrations (+12.2%). YTD figures at 193,698 are up 20.2% from the previous year.

Looking at cumulative data up to September 2023 brand-wise,  the leader Toyota reports 54,386 new registrations with a 10.4% growth in volume compared to the prior year and 28.1% market share. Nissan in second is lags behind with 30,648 new registrations this year (+28.3%).

Mitsubishi maintains 3rd position with 6,965 cumulative registrations despite falling 49.5% compared to the previous year.

Looking at specific models the Nissan Sunny becomes the best seller rising 1 spot and 40.2% in year-on -year volume, followed by the Toyota Hilux down 10.2%.

Medium-Term Market Trend

UAE vehicles market flourished in the period 2010-2015, more than doubling volumes from 213.072 in 2010 to 408.154 in 2015, the current all-time record.

However, the growth was broken by the reduced purchase power that arrived in the second part of 2015 due to the sharp decline of oil revenue and the introduction of restrictive fiscal policies.

The market started to fall down in 2016 and in 2018, when the government introduced a 5% VAT duty, the annual volume was back down at 247,652 units.

In 2019, like in other markets in the region, the UAE market started recovering. Indeed, the Full-year ended at 263,001 sales, improving 6.2% from the previous year.

Due to the COVID-19 pandemic sales fell in  2020 at the lowest since 2008. A 26% recovery in 2021 was just a light in a trend not yet positive, with next year’s expected not to be easy for the industry, due to the expected global recession that would reduce the oil price in the international market reducing UAE revenues.

Tables with sales figures

In the tables below we report sales for top 10 Brands

Market Trend and Outlook

The Kuwaiti Vehicles Market in September 2023 grows for the 8th month of the year, with 10,125 new registrations (+1.1%). YTD figures at 94,652 are up 10.7% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Toyota at 30,713 sales is back above 32% market share and reports a 3.4% growth in registrations from the prior year. Nissan lags far behind in second, rising 1 spot with 7,157 sales (+50.6%).

Chevrolet falls 1 spot into 3rd with 6,690 new registrations and a 1.1% loss year-on-year volume.

Looking at specific models the Toyota Land Cruiser becomes the new best seller rising 1 spot and 79.7% in year-on-year volume, followed by the Toyota Camry up 28.8%.

Medium-Term Market Trend

The development of the domestic car market in Kuwait had a gold era over a decade ago, when the strong economic growth, high oil price and high workers immigration pushed the market up for years until reaching the 2014 all-time record with 162,719.

Then, the economy started struggling for the fall of oil price in the international market and the public spending was cut while taxes increases. The car market start struggling and declined for 3 consecutive years. When in 2018 and 2019 a shy recovery was in place, the arrival of pandemic pushed sales down at the last 15 years record-low of 88.000.

However, since early 2021 the economic recovery sustained consumers demand and the market is recovering.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

Emirates Automotive Market in 2022 totals 217,245 sales, a 2.0% increase from the prior year. December grows for the 2nd month in a row, with 18,570 new registrations (+8.2%). MG in 8th spot rises 87.1%.

Market Trend and Outlook

Following the sharp recovery scored in 2021 (+26.5), the light vehicles market has lost steam and increased moderately in the 2022. It is in fact still very far from the levels reached few years ago.

In 2022 the Light Vehicle Market totals 217,245 sales, a 2.0% increase from the prior year. Confirming the overall uptrend, December grows for the second month in a row, with 18,570 new registrations (+8.2%).

Looking at cumulative data from 2022 brand-wise,  the leader Toyota at 66,504 sales is back over 30% market share with a 13.4% increase from the previous year. Nissan in second is lags far behind with 32,997 new registrations this year (-6.4%).

Mitsubishi maintains 3rd position with 28,577 cumulative registrations and a 10.6% growth in sales.

The Chinese MG keeps growing fast, increasing sales by 87.1% from last year. Thanks to an amazing performance in 2022, it has jumped 8 spots securing 8th position in the rankings.

Tables with sales figures

In the tables below we report sales for top 10 Brands

Market Trend and Outlook

Oman’s economic recovery is gaining traction. Strong vaccination efforts have allowed for the relaxation of all social distancing restrictions. Overall GDP growth rebounded from -3.2 percent in 2020 to 3.0 percent in 2021, and is projected at 4.3 percent in 2022, supported by increased hydrocarbon production and continued recovery of non-hydrocarbon economic activity.

However, demand for new vehicles still remains low in 2022. The Light Vehicle Market this year falls for the 9th year in a row, totaling 64,331 sales (-10.8%). Despite reporting substantial losses throughout the 2022, the year ends with December posting an 11.2% increase in sales with 6,000 new registrations.

Looking at cumulative data from 2022 brand-wise, the leader Toyota is back over 44% market share with 30,111 sales (-10.1%) and a huge gap over all others.

In second place Nissan sold 7,371 units (-41.8%) while the Chinese MG kept gaining reaching the third position with 5,157 sales (+50.3%).

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

Market Trend and Outlook

Following the sharp fall reported in 2020, (-22.6%) the light vehicles market re-gained momentum in 2021 rising 22% by the end of the year.

In 2022 the Kuwaiti Vehicles Market totals 119,855 sales, a 12.9% increase from the prior year. This is the highest level of sales in the last 7 years. The strong momentum is confirmed by December growing for the 9th month in a row, with 11,690 new registrations (+31.9%).

Looking at cumulative data from 2022 brand-wise, the leader Toyota at 40,817 sales is back above 34% market share and reports a 42.6% increase in registrations from the prior year. Chevrolet lags far behind in second with 8,970 sales grows 18.4% this year.

Nissan falls into 3rd position reporting 7,657 cumulative sales and a 32.7% loss from the previous year.

The rising star is the Chinese brand MG which gained 64.3% advancing into seven place with 4,645 sales.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

Market Trend and Outlook

Following a collapse in sales in 2020 (-17.9%), the light vehicle market started to gain momentum in the 2021, closing the year 13.8% higher than the prior. This spike in demand was caused by strong investments in preparation for the 2022 FIFA World Cup, that ultimately lead to a growth in the countries GDP.

In 2022 the light vehicle market in Qatar totaled 61,407 sales, a 34.9% increase from the prior year. December confirmed the overall uptrend, posting the 12th consecutive growth of the year with 5,188 new registrations (+23.7%).

Looking at cumulative data from 2022 brand-wise, the leader Toyota reports 20,626 sales (+59.8%) and 33.6% market share, far in front of Nissan which sold 5,003 units (+0.1%).

In third place ranks Kia with 3,931 sales(+22.8%) ahead of a skyrocketing Suzuki, -up 6 spots- in 4th with 2,857 new registrations (+119.6%).

Tables with sales figures

In the tables below we report sales for Top 10 Brands and Top 10 Models.

Market Trend

The Kuwaiti car market this year attempted to recovered effectively from the pandemic crash of 2020 and reported a very promising performance all year except for Q4..

Kuwait vehicles market hit an all-time record in 2014 with 162,719 sales ending a long positive path.

However, the sudden economic crisis generated by the fall of oil price hit the sector with sales declined for three consecutive years. In 2017, light vehicle sales have been 106,551.

In 2018, according to data reported by the Kuwaiti Authority for Transportation, the market has finally changed mood breaking the falling trend and scoring a positive second half which allowed to the end of the year with 107,534 sales, up a mere 0.9%.

In 2019 the market kept recovering with moderation. Indeed, Full-year registrations in 2019 have been 114,605, growing 6.6% from the previous year.

Due to the COVID-19 pandemic and the sharp fall in oil prices sales fell in  2020. In fact, 88,930 units have been sold, reporting a decline of 22.4% compared to 2019.

In 2021 the year started positively for the Kuwait market, in fact, in Q1 27,579 units have been sold, reporting a 18.9% increase in sales compared to Q1 2020, while in Q2 sales accelerated, reporting a 160.7% increase in sales with 25,790 units sold due to the low levels reported in Q2 2020.

In Q3 sales grew just 8.7% with 28,124 units, while in Q4 sales fell 10.7% with 26,536 units.

Indeed, Full-Year sales for 2021 have been 108,029, reporting a 21.8% increase compared to 2020.

Brand-wise, this year the leader Toyota (+4.1%) lost 4.6% market share, followed by Nissan (+45.1%), which gained 1.7% share, and Chevrolet which lost 0.1% share, gaining 20.6%.  Mitsubishi reached 4th place and gained 32.5%, followed by Kia which gained 1.4%, reporting the worst performance on the leaderboard.

Ford gained 31.6%, followed by Honda (+23.9%) -up 1 spot- and Lexus (+1.9%). Closing the leaderboard we have Hyundai gaining 12.2% this year and MG registering the best performance (+47.5%).

The most sold vehicle this year remains the Toyota Land Cruiser (-6.6%) with 6,215 units sold, followed by the Nissan Sunny (+125.5%) registering 4,906 new sales this year. The Toyota Camry (-3.7%) closes the podium and reports 4,549 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

Market Trend

The Oman car market this year was unable to recover effectively, reporting a positive performance only in Q2.

Omani vehicles market was one of the fastest-growing worldwide in the period 2003-2013 and at the end of a long series of annual all-time records, the market achieved a significant level of 213,000 sales in 2013.

Unfortunately, the economic crisis created by the fall of oil price in the international market and the persistently low level of this primary resource for the country economy severely hit the demand for consumers good, and the new vehicles market dropped down for the following 5 years, ending 2018 at 127,546 units, near 40% below the record.

Despite postponing the VAT introduction, the government has not been able to improve the economic trend, and even in 2019, the new light vehicles market has lost terrain. Indeed, Total sales in 2019 have been 111,608, down 12.5%

Due to the COVID-19 pandemic sales fell in  2020. In fact, 74,600 units have been sold, reporting a decline of 33.2% compared to 2019.

In 2021 the year started negatively for the Oman market, in fact, in Q1 21,495 units have been sold, reporting a 13.1% decrease in sales compared to Q1 2020, while in Q2 sales increased quickly, reporting a 115.3% increase in sales with 17,406 units sold due to the extremely low sales experienced in Q2 2020.

In Q3 17,936 units have been sold, reporting a decrease of 8.4% sales, and in Q4 sales were 17,544 (-21.4%).

Indeed, Full-Year sales for 2021 have been 74,381, reporting a 0.5% decrease compared to 2020.

Brand-wise, this year the leader Toyota (+3.2%) gained 1.8% market share, while in second place we have Nissan (-29.6%), which lost 7.1% share, followed by Hyundai -up 2 spots- which gained 1.3% share, gaining 32.8%.  MG –up 3 spots- reached 4th place and reported the best performance by rising 102.5%, followed by Lexus which fell 2 spots and fell 12.6%.

Isuzu gained 36.4%, followed by Kia (-24.8%) -down 3 spots-, and Mitsubishi which gained 27.2% sales. Closing the leaderboard we have Mazda gaining 23.8% this year and Honda -up 1 spot- in last place gaining 17.7%.

The most sold vehicle this year is the Nissan Sunny (+16.7%) with 10,920 units sold, followed by the Toyota Hilux (+47.3%) registering 10,717 new sales this year. The Toyota Land Cruiser P/U (-20.1%) closes the podium and reports 6,092 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.