Wednesday 08 / January / 2025
Muscat: Prices of vehicles in the Sultanate compared to other GCC States were discussed by the Majlis Al Shura Economic and Financial Committee on Tuesday under the chair of Dr Saleh bin Said bin Salim Musan, Chairman of the Committee.
The Committee hosted Eng. Ahmed bin Hassan Al Dheeb, Undersecretary of the Ministry of Commerce and Industry & Deputy Chairman of the Public Authority for Consumer Protection, a number of specialists at the Public Authority for Customs, representatives of Oman Chamber of Commerce and Industry, auto agencies and auto showrooms in the Sultanate.
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At the start, the Committee chairman stressed the importance of the meeting as it gathers all auto sector stakeholders.
He added that the aim of this meeting was to focus on two main themes namely the rising cost of the vehicles compared to the neighbouring countries and the effect of this difference in prices on the performance of the Omani economy, especially as many consumers prefer to buy vehicles from outside Oman.
During the meeting, auto agencies’ representatives explained some factors that make them raise prices of certain vehicles, such as the strong local demand, purchasing power, the operational costs, and high cost of shipping to the Omani ports.
The Public Authority for Consumer Protection had earlier made a comparison between vehicles prices in Oman and other GCC states. It pointed out that there is a difference in prices of certain vehicles though the cost of shipping to Oman should presumably be less which is in favour of local market.
Panel members gave some inputs and made enquiries on the importance of providing the Committee with data on the difference in prices and the studies carried out by PACP as such data will enrich the Committee’s study of this issue and will have positive reflection on all auto sector stakeholders in the Sultanate.
They stressed the importance of regularising this sector and addressing the challenges to ensure optimum benefit for consumers.
