Qatar's automobile sector displayed a bullish outlook in May this year mainly on almost tripled sales of new private vehicles and a robust double-digit growth in the registration of private transport vehicles, according to the official statistics.
The registration of private vehicles shot up 196.6% year-on-year to 3,153 units this May. It witnessed a 2.4% monthly growth. Such vehicles constituted more than 67% of the total new vehicles registered in the country in the review period.
Otherwise, the new vehicles registration stood at 4,695; representing a robust 150% year-on-year surge in the review period. However, it declined by a marginal 0.8% month-on-month in the review period.
Of the new 4,695 vehicles registered this May, the registration of new private transport vehicles stood at 1,078; which constituted 22.9% of the total new vehicles. Such registrations saw an 89.1% increase year-on-year but shrank 4.2% month-on-month in May 2021.
According to the Qatar Central Bank data, auto loans to Qataris and non-Qataris were seen declining 32.18% and 25% year-on-year respectively to QR1.18bn and QR0.21bn this May.
Personal loans to Qataris reported an 18.78% shrinkage year-on-year to QR48.21bn and those to non-Qataris by 22.76% to QR7.94bn in the review period.
Consumption credit to nationals grew 10.94% year-on-year to QR154.69bn; while that to non-Qataris shrank 24.77% to QR10.51bn in May this year.
The registration of trailers witnessed a 10-fold jump year-on-year to 20 units this April; indicating the positive outlook on the vital infrastructure of the country, which was corroborated by the Qatar Financial Centre's purchasing managers' index that found rebound in non-hydrocarbons private sector.
The registration of new heavy equipment was 198, which reported a 150.6% surge on a yearly basis and 6.5% month-on-month this May. It constituted 4.22% of the new vehicles registered.
The registration of new motorcycles more than doubled year-on-year to 234 units, even as it shrank 13.3% month-on-month. Such registrations constituted 4.98% of the new vehicles registered.
The new registration of other non-specified vehicles amounted to 12 units, registering 78.9% and 73.3% decline year-on-year and month-on-month respectively in the review period.
The transfer of ownership was reported in 22,740 vehicles this May, which saw a 44.6% increase year-on-year but fell 5.4% month-on-month.
The renewal of registration was reported in 55,064 units, which saw 12.3% and 3.2% shrinkages year-on-year and month-on-month respectively in the review period.
The re-registration of vehicles saw more than doubling year-on-year to 61 units; whereas it declined 45% on a monthly basis in May 2021.
The cancelled vehicles stood at 1,315 units, which witnessed an almost eight-fold jump on a yearly basis but declined 15.3% month-on-month in the review period.
The modified vehicles grew more almost nine-fold year-on-year to 4,744 in May 2021. It saw a 2.2% expansion on a monthly basis.
The number of lost/damaged vehicles jumped more than 24-fold on a yearly basis to 9,940 units. It was up 0.66% month-on-month in May 021.
The number of vehicles meant for exports almost quadrupled year-on-year to 1,820. It was up 1.3% on monthly basis in May this year.
Clearing of vehicle-related processes stood at 100,392 units, which rose 22.5% year-on-year but was down 3.1% month-on-month in the review period.
The registration of private vehicles shot up 196.6% year-on-year to 3,153 units this May. It witnessed a 2.4% monthly growth. Such vehicles constituted more than 67% of the total new vehicles registered in the country in the review period.
Otherwise, the new vehicles registration stood at 4,695; representing a robust 150% year-on-year surge in the review period. However, it declined by a marginal 0.8% month-on-month in the review period.
Of the new 4,695 vehicles registered this May, the registration of new private transport vehicles stood at 1,078; which constituted 22.9% of the total new vehicles. Such registrations saw an 89.1% increase year-on-year but shrank 4.2% month-on-month in May 2021.
According to the Qatar Central Bank data, auto loans to Qataris and non-Qataris were seen declining 32.18% and 25% year-on-year respectively to QR1.18bn and QR0.21bn this May.
Personal loans to Qataris reported an 18.78% shrinkage year-on-year to QR48.21bn and those to non-Qataris by 22.76% to QR7.94bn in the review period.
Consumption credit to nationals grew 10.94% year-on-year to QR154.69bn; while that to non-Qataris shrank 24.77% to QR10.51bn in May this year.
The registration of trailers witnessed a 10-fold jump year-on-year to 20 units this April; indicating the positive outlook on the vital infrastructure of the country, which was corroborated by the Qatar Financial Centre's purchasing managers' index that found rebound in non-hydrocarbons private sector.
The registration of new heavy equipment was 198, which reported a 150.6% surge on a yearly basis and 6.5% month-on-month this May. It constituted 4.22% of the new vehicles registered.
The registration of new motorcycles more than doubled year-on-year to 234 units, even as it shrank 13.3% month-on-month. Such registrations constituted 4.98% of the new vehicles registered.
The new registration of other non-specified vehicles amounted to 12 units, registering 78.9% and 73.3% decline year-on-year and month-on-month respectively in the review period.
The transfer of ownership was reported in 22,740 vehicles this May, which saw a 44.6% increase year-on-year but fell 5.4% month-on-month.
The renewal of registration was reported in 55,064 units, which saw 12.3% and 3.2% shrinkages year-on-year and month-on-month respectively in the review period.
The re-registration of vehicles saw more than doubling year-on-year to 61 units; whereas it declined 45% on a monthly basis in May 2021.
The cancelled vehicles stood at 1,315 units, which witnessed an almost eight-fold jump on a yearly basis but declined 15.3% month-on-month in the review period.
The modified vehicles grew more almost nine-fold year-on-year to 4,744 in May 2021. It saw a 2.2% expansion on a monthly basis.
The number of lost/damaged vehicles jumped more than 24-fold on a yearly basis to 9,940 units. It was up 0.66% month-on-month in May 021.
The number of vehicles meant for exports almost quadrupled year-on-year to 1,820. It was up 1.3% on monthly basis in May this year.
Clearing of vehicle-related processes stood at 100,392 units, which rose 22.5% year-on-year but was down 3.1% month-on-month in the review period.
