Automobiles sector posts robust demand growth: PSA

Qatar’s automobiles sector witnessed robust demand generation, notably in the new private vehicles and heavy equipment, where registrations more than doubled year-on-year in April 2021, according to the figures released by the Planning and Statistics Authority (PSA).New registration of trailers witnessed an almost five-fold jump year-on-year this April; indicating the positive outlook on the vital infrastructure of country, which was corroborated by the Qatar Financial Centre's purchasing managers' index that found the rebound in the non-hydrocarbon private sector.The new vehicles registration stood at 4,734; representing a remarkable 86.7% year-on-year surge in the review period. However, it declined 11.4% month-on-month in the review period.Of the new 4,734 vehicles registered this April, the number of new private vehicles stood at 3,079 – recording a 141.7% expansion in a yearly basis, even as it fell 16% on a monthly basis. These private vehicles accounted for more than 66% of the new vehicles registered in the review period.The registration of new private transport vehicles stood at 1,125; which constituted 23.76% of the total new vehicles. Such registrations saw 64.2% and 6.9% increase year-on-year and month-on-month respectively in April 2021.According to the Qatar Central Bank data, the consumption credit rose 12.51% year-on-year to QR157.07bn in April 2021. The consumption credit to nationals amounted to QR146.31bn, which grew 16.87%; while that to non-Qataris shrank 25.38% to QR10.76bn.Auto loans to Qataris and non-Qatari were seen declining 30.56% and 24.14% year-on-year respectively to QR1.25bn and QR0.22bn this April.The personal loans to Qataris reported a 15.36% shrinkage year-on-year to QR48.83bn and those to non-Qataris by 23.89% to QR8.06bn in the review period.Registration of new heavy equipment stood at 186, which reported a 173.5% surge on a yearly basis but recorded a 19.8% shrinkage month-on-month this April. It constituted 3.93% of the new vehicles registered.Registration of new trailers stood at 29 units, which zoomed 383.3% year-on-year but shrank 29.3% month-on-month in the review period.Registration of new motorcycles stood at 270, registering a 9.1% and 20.4% decline year-on-year and month-on-month respectively. Such registrations constituted 5.7% of the new vehicles registered.New registration of other non-specified vehicles more than tripled on a monthly basis to 45 units, even as it shrank 78% on a yearly basis in the review period.Transfer of ownership was reported in 24,038 vehicles this April, which saw a 79.8% increase year-on-year but fell 18.8% month-on-month.Renewal of registration was reported in 56,888 units, which saw a 31.5% and 23.3% shrinkage year-on-year and month-on-month respectively in the review period.Re-registration of vehicles saw more than tripling year-on-year to 111 units; whereas it declined 15.9% on a monthly basis in April 2021.Cancelled vehicles stood at 1,553 units, which witnessed an almost tripling on a yearly basis, but declined 24.4% month-on-month in the review period.Modified vehicles grew more than six-fold year-on-year to 4,641 in April 2021. It saw a 44.3% expansion on a monthly basis.The number of lost/damaged vehicles jumped about 26-fold on a yearly basis to 9,875 units; even as it dipped 20.95% month-on-month in April 2021.The number of vehicles meant for exports almost quadrupled year-on-year to 1,796. It was up 1.9% on monthly in April this year.Clearing of vehicle-related processes stood at 103,607 units, which rose 2.5% year-on-year but was down 19.5% month-on-month in the review period.