Oman Vehicles Market in 2022 falls for the 9th year in a row, totaling 64,331 sales (-10.8%). December at 6,000 new registrations grows 11.2% compared the the prior year.
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.