CARS IN QATAR INCREASING AT UNPRECEDENTED RATE
Qatar is expected to have 912,000 cars on its roads by 2020. According to Alpen Capital, the number of passenger cars in use in the country is expected to register the highest annualised growth of 5.4% in the GCC region. 66 > QATAR TODAY > JANUARY 2017
The company, offering a comprehensive range of financial advisory services across the GCC and South Asia, further said that the number of passenger cars in use in Qatar is projected to account for about 7% of the GCC car fleet in 2020. It added that an increasing population base is expected to further support demand for automobiles in the country.
The report pointed out that new passenger car sales in Qatar during the first four months of 2016 were dominated by Toyota with a 36.5% market share. Qatar registered over 86,000 new vehicles in 2015, signifying a 9.3% Compound Annual Growth Rate (CAGR) increase from 2010. The growth is attributed to domestic opulence and a growing population.