Qatari New Vehicles sales in 2023 increased slightly. Full Year figures at 62,283 were up 2.0% from the previous year. Lexus booms 97.6% into 5th place.
Market Trend and Outlook
The Qatari vehicle market in 2023 totalled 62,283 sales and are up 2.0% from the previous year. December falls for the 6th month this year, reporting 5,105 new registrations (-0.2%).
Looking at cumulative data up to December 2023 brand-wise, the leader Toyota reports 18,268 sales (-11.4%) and 29.3% market share, far in front of Nissan with 4,428 units sold (-11.5%).
In third place ranks Kia with 3,955 sales (-4.4%) ahead of Land Rover -up 5 spots- in 4th with 3,640 new registrations (+80.4%). Closing the top 5 we have Lexus with 3,588 sales (+97.6%).
Looking at specific models the Toyota Land Cruiser is the still best seller despite losing 24.5% from the previous year, followed by the Lexus LX with a huge 111.3% 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.
