Qatar's automobile sector gains speed in August on surging private vehicles' registration: NPC

Qatar's automobile sector showed demand strengthening in August 2024, as new registrations, especially those of the private vehicles, saw a robust two-digit growth, according to the official estimates.The country's automobile sector witnessed as many as 8,605 new registrations in August 2024, registering 14% and 11.3% growth on annualised and monthly basis respectively, according to the National Planning Council (NPC) data.The review period saw a total of 7,928 driving licenses issued with non-Qatari males constituting 5,738 or 72% of the total, non-Qatari females 1,433 or 18%, Qatari males 489 or 6% and Qatari females 268 or 4%. The total licenses issued jumped 0.6% month-on-month but declined 14.5% year-on-year in the review period.The registration of new private vehicles stood at 6,641; which shot up 27.5% and 8.6% on yearly and monthly basis respectively in August 2024. Such vehicles constituted 77.2% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 1,173; which was up 2.6% year-on-year but fell 2.4% month-on-month this August. Such vehicles constituted 13.6% of the total new vehicles in the review period.As many as 54 trailers were registered in August 2024, which zoomed 20% and 3.8% year-on-year and month-on-month respectively. They constituted 0.63% of the total new vehicles in the review period.The registration of new private motorcycles stood at 216 units, which decreased 13.9% on a yearly basis but grew 32.5% on monthly basis in August 2024. These constituted 2.5% of the total new vehicles in the review period.The registration of new heavy equipment stood at 131, which constituted 1.5% of the total registrations this August. Their registrations had seen 47.8% and 4.4% contraction year-on-year and month-on-month respectively in the review period.The new registration of other non-specified vehicles stood at 390 units, which tanked 39.6% on an annualised basis but surged 529% month-on-month in August 2024. They constituted 4.5% of the total new vehicles registered in the country in the review period.The registration was renewed in 72,845 vehicles, which reported a 0.2% rise year-on-year but fell 3.6% month-on-month in August 2024. It constituted 54.4% of the clearing of vehicle-related processes in the review period.The clearing of vehicle-related processes was seen in 133,901 units, which grew 6.7% on a yearly basis, while declined 2.8% month-on-month in the review period.The transfer of ownership was reported in 31,887 vehicles in August 2024, which was down 2.2% and 1.1% year-on-year and month-on-month respectively. It constituted 23.81% of the clearing of vehicle-related processes in the review period.The lost/damaged vehicles stood at 10,940 units, which shot up 222.4% on yearly basis but shrank 8.8% on monthly basis in August 2024. They constituted 8.17% of the clearing of vehicle-related processes in the review period.The number of cancelled vehicles was 3,652; which rose 49.9% year-on-year, even as it fell 5.1% month-on-month in August 2024. They constituted 2.73% of the clearing of vehicle-related processes in the review period.The modified vehicles’ registration stood at 3,256; which tanked 28% on an annualised basis but expanded 3.3% month-on-month in August 2024. They constituted 2.43% of the clearing of vehicle-related processes in the review period.The number of vehicles meant for exports stood at 2,716 units, which zoomed 25.5% year-on-year, whereas it shrank 7.6% month-on-month respectively this August. It constituted 2.03% of the clearing of vehicle-related processes in the review period.The re-registration was done in 121 vehicles, which plunged 11.7% and 14.2% year-on-year and month-on-month respectively this August. They constituted mere 0.1% of the clearing of vehicle-related processes in the review period.