Qatari new vehicles kept falling in the 2018 despite the government decision to postpone the VAT introduction by one year. Sales fell down 6.3%, signing the fourth negative annual score in a row. Toyota was still dominating the market, with 31.1% market share.
Qatari economy accelerated in Q3, with strong growth in the construction; and accommodation and food services sub-sectors. In contrast, the mining and quarrying sub-sector contracted slightly. Looking to Q4, trade data for October and November paints a positive picture, with exports and the trade surplus rising by double digits in annual terms. Moreover, foreign reserves continued to rise in November.
Looking ahead, growth should be supported by higher hydrocarbon production and infrastructure projects. However, the Saudi-led blockade and exposure to volatile commodity prices are downside risks.
Qatar Vehicles Market in recent year is declining. Following the all time record established in the 2014, when sales hit the 100.000 units, the fall of oil price in the international market and the consequent restrictive economic policy, hit the consumer demand starting a negative period not yet ended. Sales fell down for three consecutive years losing the half of 2014 volume and landing at 54.280 units in the 2017, losing a huge 25.6%.
The Government decision to postpone the already approved VAT introduction by one year did not sorted great effects not solving the main economic issue represented by the too high level of national deficit. The vehicles market, which accelerated in Q4 2017 anticipating the price increase, was not able to generate new strong demand and the negative trend is still in place.
In the 2018 the market fell down again. Indeed, the year has signed the fourth negative annual score in a row, ending with sales down 6.3%. Moreover, the market has closed with registrations at 50.757, almost half of the 2014 all time record.
|Market||Sales 2014||Sales 2015||Sales 2016||Sales 2017||Sales 2018||'+/- 2018|
The competitive landscape in 2018 was dominated by Toyota, selling 15.789 vehicles (-2.8%) with 31.1% of market share.
In second place Nissan with 7.018 units (-14.6%) and in third Mitsubishi with 3.687 (-11.3%).
Tables with sales figures
In the tables below we report sales for Top Brands