Oman Vehicles Market in 2026 struggles. Q1 figures in 2026 fell by 2.4%, with Nissan rising by 5 spots into 3rd and taking the spot of Jetour. Notably, Kia and Isuzu reported the sharpest losses.
Economic Environment
According to the IMF, Oman’s economy is expected to grow by 3.5% in 2026, demonstrating resilience despite a challenging global environment. While the IMF slightly lowered its growth forecast due to global market volatility, Oman’s economic performance continues to be supported by strong non-oil sector activity and ongoing fiscal reforms.
Inflation is projected to remain low at around 1.7%, reflecting effective economic management and price stability. The country’s financial position is also expected to strengthen, with public debt declining to approximately 33% of GDP and the current account recording a surplus of 7.5%. These positive indicators highlight Oman’s ability to adapt to global economic pressures while maintaining sustainable growth and macroeconomic stability.
Automotive Industry Trend And Outlook
Despite the positive trend of 2025, Oman’s vehicle market started 2026 in a stagnating state. Q1 sales dropped by 2.4%, although losses were relatively more moderate compared to GCC trend of -17.5%.
Brand-wise, the leader Toyota was still on top of the rankings with a 47.2% share, losing 1.6% and retaining a huge gap over all others.
In second place ranked Hyundai growing by 2.2% while Nissan climbed up 5 spots into 3rd growing by 135.9%. Jetour -down 1 spot- also showed impressive gains of 19.7% while MG dropped 26% and 1 spot into 5th.
Notably, Kia and Isuzu reported the sharpest losses among leading brands.
Looking at specific models the Toyota Hilux rose to 1st despite a 2.8% year-on-year loss in sales, followed by last year’s leader, the Toyota Land Cruiser, up 1 spot and 107.8%.
EV Market Trend And Outlook
Oman’s EV sector shows impressive gains, up by 29.6% in Q1 of 2026. Growth is supported by government initiatives, such as a lowering to 0% the import tariff, waives registration fees, and exempts electric vehicles and parts from VAT.
Toyota secured top spot, despite losing 4.4%. BYD followed in 2nd, growing 6 spots and 623.1%.
Medium-Term Market Trend
Oman’s automotive market experienced one of the fastest growth rates globally between 2003 and 2013, reaching a historic peak of 216,898 vehicle sales in 2014. This expansion was driven by strong economic performance and high consumer spending. However, the sharp decline in global oil prices marked the beginning of a sustained market contraction, with vehicle sales falling by 6.9% in 2015 and a further 20.8% in 2016, followed by continued declines in the years that followed.
Although the government postponed the introduction of VAT to support economic activity, demand remained weak and the market continued to contract through 2019. The COVID-19 pandemic further intensified these challenges, causing additional declines in vehicle sales. By 2021, the market had fallen to its lowest level in 15 years, with sales totaling just 72,083 units. The downturn persisted in 2022 and 2023, with sales declining by 10.8% and 9.8%, respectively. However, signs of recovery emerged in 2024, as the market rebounded by 15.1%. While electric vehicle adoption remains limited, the Omani government has expressed its commitment to expanding EV infrastructure and supporting the sector’s long-term development.
Tables with sales figures
In the tables below we report sales for top 10 models.
