Report: Growing population putting pressure on Qatar car prices
Qatar’s rapidly increasing population is driving up vehicle maintenance and ownership costs, causing car owners here to be among those literally paying the price for the country’s rapid growth.
Last week, Qatar’s Ministry of Planning Development and Statistics (MPDS) reported that transportation costs jumped 6 percent last month compared to April 2014.
Analyzing these latest inflation figures, Qatar National Bank (QNB) said in a report today that vehicle prices are climbing due to higher demand from the country’s growing population.
The report is likely to add to an ongoing debate over whether the government should regulate vehicle prices in Qatar. The idea has been floated on multiple occasions in recent years and was most recently revived in March.
Officials from the Ministry of Economy and Commerce have acknowledged complaints from some residents who accuse dealerships of “price manipulation,” saying that certain vehicle models are more expensive in Qatar than in other GCC countries.
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Source News: Doha News
Photo: Kimo/Flickr
