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Qatar Autos Report Q3 2010
Management Report
Published: June 2010
Pages: 36
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 353.33 Buy Now!
Research from: Business Monitor International
Sector: Automotive
There are no comprehensive and reliable vehicle sales and import statistics available for Qatar, which has only a very small car industry, owing to the state’s low population (1.6mn in 2009). However, some dealerships do release their sales figures, making it possible to get a partial handle on local vehicle demand and the overall direction of sales and imports.
There are no comprehensive and reliable vehicle sales and import statistics available for Qatar, which has only a very small car industry, owing to the state’s low population (1.6mn in 2009). However, some dealerships do release their sales figures, making it possible to get a partial handle on local vehicle demand and the overall direction of sales and imports.
After a difficult 2009, several car dealers have reported an improvement in sales in the early months of 2010. Qatar Automobiles Company, the exclusive distributor for Mitsubishi Motors and the Mitsubishi Fuso truck brand in Qatar, reported a 15% increase in sales in the first two months of 2010. As such, the company is aiming to sell 8,000 new Mitsubishis in 2010, compared with just over 6,000 in 2009. Demand for Nissan Motor is also reported to have increased in early 2010, with over 4,000 new Nissan vehicles sold in January 2010 by local distributor Saleh Al Hamad Al Mana, which has maintained a presence in Qatar for over 50 years.
We would anticipate that the demand for new vehicles in Qatar will remain robust in 2011. This is largely down to our core macroeconomic forecast that the economy will continue to undergo double-digit growth next year. While we anticipate that growth in the economy as a whole will then moderate (to a range of just above 3.5% and 6.5% across the period 2012-2014), car sales growth should remain robust, thanks in large part to continued strong population growth. We predict that the state’s population will reach 1.9mn in 2014, up from just 0.9mn in 2005.
Key brands with an established presence in Qatar’s auto market include Mitsubishi, Nissan, Renault and Honda Motor. Another local distributor, Domasco, has the monopoly on the sale of Honda vehicles in the state. High-end distributor Dana Motors has a monopoly on the distribution of Bentleys, Bugattis and Lambourghinis.
After a difficult 2009, several car dealers have reported an improvement in sales in the early months of 2010. Qatar Automobiles Company, the exclusive distributor for Mitsubishi Motors and the Mitsubishi Fuso truck brand in Qatar, reported a 15% increase in sales in the first two months of 2010. As such, the company is aiming to sell 8,000 new Mitsubishis in 2010, compared with just over 6,000 in 2009. Demand for Nissan Motor is also reported to have increased in early 2010, with over 4,000 new Nissan vehicles sold in January 2010 by local distributor Saleh Al Hamad Al Mana, which has maintained a presence in Qatar for over 50 years.
We would anticipate that the demand for new vehicles in Qatar will remain robust in 2011. This is largely down to our core macroeconomic forecast that the economy will continue to undergo double-digit growth next year. While we anticipate that growth in the economy as a whole will then moderate (to a range of just above 3.5% and 6.5% across the period 2012-2014), car sales growth should remain robust, thanks in large part to continued strong population growth. We predict that the state’s population will reach 1.9mn in 2014, up from just 0.9mn in 2005.
Key brands with an established presence in Qatar’s auto market include Mitsubishi, Nissan, Renault and Honda Motor. Another local distributor, Domasco, has the monopoly on the sale of Honda vehicles in the state. High-end distributor Dana Motors has a monopoly on the distribution of Bentleys, Bugattis and Lambourghinis.