Qatar’s automobiles sector witnessed a modest growth in used vehicles segment, even as new sales declined in January 2021, according to the figures released by the Planning and Statistics Authority (PSA).
The transfer of ownership was reported in 30,126 vehicles in the review period, which saw a 2.1% and 16.5% jump month-on-month and year-on-year in January 2021.
The new vehicles registration stood at 5,468, which nevertheless saw 6.1% and 7.7% month-on-month and year-on-year decline respectively in the review period.
Of the new 5,468 vehicles registered in January 2021, the number of new private vehicles stood at 3,733, recording 5.6% and 14.3% shrinkages on monthly and yearly basis. These accounted for more than 68% of the new vehicles registered in the review period.
The registration of new private transport vehicles stood at 1,178; which constituted about 22% of the total new vehicles in the review period. Such registrations saw 2.6% and 4.3% increases month-on-month and year-on-year respectively in January 2021.
According to Qatar Central Bank data, the consumption credit grew 8.32% year-on-year to QR137.19bn, which constituted about 14% of the total domestic credit in January this year.
The consumption credit to nationals amounted to QR135.22bn, of which as much as QR60.27bn went as as personal loans and auto loans were to the tune of QR1.34bn in January 2021.
The consumption credit to non-Qataris stood at QR11.45bn with personal loans constituting QR8.42bn and auto loans at QR0.24bn.
The registration of new motorcycles stood at 270, registering a 37.5% fall on monthly basis, even as it grew 42.1% on yearly basis. Such registrations constituted about 5% of the new vehicles registered in the review period.
The registration of new heavy equipment was 163, which reported a 23.8% shrinkage month-on-month but increased 52.3% year-on-year in January 2021. It constituted about 3% of the new vehicles in the review period.
The registration of new trailers stood at 47 units, which shot up 14.6% year-on-year; but contracted 13% on a yearly basis in January 2021.
The new registration of other non-specified vehicles more than doubled to 77 units on a monthly basis, even as it shrank 15.4% on yearly basis in January 2021.
The renewal of registration was reported in 70,060 units, which saw a 7.7% jump month-on-month while declined 4.6% year-on-year in the review period.
The re-registration of vehicles stood at 77 units, which saw 6.1% and 61.9% shrinkages on monthly and yearly basis respectively this January.
The cancelled vehicles stood at 1,791 units, which witnessed a 9.2% growth month-on-month whereas it was down 0.7% on yearly basis in the review period.
The modified vehicles stood at 5,431 in January 2021, which saw 30.9% and 22.3% expansions on monthly and yearly basis respectively.
The number of lost/damaged vehicles doubled to 10,287 on a monthly scale; even as it grew more than six fold year-on-year in January 2021.
The number of vehicles meant for exports were 1,191; which shrank 12.2% and 13.9% on monthly and yearly basis respectively in January 2021.
Clearing of vehicle-related processes stood at 124,210 units, which rose 5.6% and 8.4% month-on-month and year-on-year respectively in the review period.