Over 600,000 new vehicles registered in last five years

Muscat - 

Oman’s economic growth during the last five years has boosted its automobile sector. 

Statistics indicate that more than 635,000 new vehicles were registered during this period, with private cars accounting for 74.1 per cent. The last five years have seen new jobs being created and pays hiked, leading to improved living standards and an increased demand for new cars.

Economic growth has also helped sale of new commercial vehicles, car rentals businesses, taxi and school vehicle sales. Commercial vehicles accounted for 17.9 per cent of the total new vehicles registered (114,000), rental cars came next at 3.6 per cent of the total (23,000), followed by government vehicles (13,000 or two per cent of the total).

The number of new taxis registered in the last five years stood at 7,000 while school vehicles numbered 964. The year 2014 saw the most registrations over 143,000. In 2015, this number was 109,000.

The rise in the number of private cars registered in 2014 111,000 – has been attributed to the unification of grades and salaries for civil sector employees introduced in the beginning of that year. This led to higher salaries in the public sector.

Economic growth has also improved private sector salaries. With effect from July 2013, the minimum salary in the private sector rose to RO325 instead of RO200 a month, which reflected positively on the purchasing power.

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