Bahrain 2023. Toyota Rises 29.7% In Vehicle Market Up 14.7%

The 2024 Land Rover Defender 130 Outbound
The 2024 Land Rover Defender 130 Outbound

Bahrain’s vehicle market in 2023 grew by double-digits. YTD figures at 29,702 are up 14.7% from the prior year. Market leader toyota is still increasing fast (+29.7%).

Market Trend and Outlook

Bahrain’s vehicle market in 2023 grew by 14.7%, while totalling 29,702 total sales. December decreased by 5.0% putting an end to a 8 month positive string, reporting 2,297 new registrations. 

Looking at cumulative data up to December 2023 brand-wise, the leader is still Toyota with a 29.7% growth in sales while holding 33.0% market share, followed by Nissan which fell 4.3%. Nissan ranks in 3rd spot with a 38.4% year-on-year growth in sales.

The best selling car becomes the Toyota Land Cruiser up 2 spots and 43.3% in year-on-year sales, followed by the Nissan Sunny down 21.5% in year-on-year volume.

Medium-Term Market Trend

The economic crisis correlated with the fall of oil price in the international market hit the Bahrain automotive industry in 2016, with a delay compared with the other countries in the Gulf region. Indeed the market scored the all-time record in 2015, with 65,042 sales, before a sharp decline to 38,000 units in 2017.

In 2018 the market was flat while in 2019 it was again in a deep fall.

Indeed, in 2019 the economy was further hit by the government’s decision to introduce VAT tax from January 2019, with the effect to increase inflation and reduce consumer purchase power. Several consumer goods industries have declined and the automotive was certainly among them. Indeed, in the Full-year sales have been 31,836, down 18.1%.

Due to the COVID-19 pandemic sales fell in  2020. In fact, 26,437 units have been sold, reporting a decline of 16.9% compared to 2019.

In 2021 the year started slightly negatively for the Bahrain market, in fact, in Q1 7,251 units have been sold, reporting a 1.5% decrease in sales compared to Q1 2020, while in Q2 sales started growing again, reporting a 23.8% increase in sales with 6,428 units sold.

In Q3 sales kept gaining 7.7% with 6,428 units, followed by a 8% drop in Q4 with 7,227 sales.

Indeed, Full-Year sales for 2021 have been 27,528, reporting a 3.7% increase compared to 2020.

In Q1 2022 sales dropped 16.7% with 5,853 units sold, but started recovering 3.2% in Q2 with 6,483 units sold.

Tables with sales figures

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

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