Qatar’s auto sector maintains bullish trend in July

Qatar's automobile sector maintained a bullish trend month-on-month this July, mainly on the back of a robust double-digit growth in the registration of new vehicles, especially for private use and heavy equipment, according to the official statistics.The new vehicle registration stood at 5,440; representing a 4% month-on-month growth but was down 2.5% year-on-year in the review period.The registration of private vehicles stood at 3,337, which registered a 10.6% and 2.2% increase month-on-month and year-on-year respectively in July 2021. Such vehicles constituted more than 61% of the total new vehicles registered in the country in the review period.Of the new 5,440 vehicles registered this July, the registration of new private transport vehicles stood at 1,456; which constituted 27% of the total new vehicles. Such registrations saw 0.8% and 9.3% jump on monthly and yearly basis respectively in July 2021.According to the Qatar Central Bank data, auto loans to Qataris and non-Qataris were seen declining 29.88% and 19.23% year-on-year respectively to QR1.15bn and QR0.21bn this July.The personal loans to Qataris reported 18.71% shrinkage year-on-year to QR48.54bn and those to non-Qataris by 16.32% to QR8.1bn in the review period.The overall consumption credit to nationals grew 10.9% year-on-year to QR141.23bn; while that to non-Qataris shrank 12.83% to QR11.48bn in July this year.The registration of new heavy equipment stood at 300, which reported a 25.5% and 32.7% surge month-on-month and year-on-year respectively this July. It constituted 5.51% of the new vehicles registered in the review period.The registration of new motorcycles stood at 297, which nevertheless showed 17.7% and 40% plunge month-on-month and year-on-year in the review period. Such registrations constituted 5.46% of the new vehicles registered in July 2021.The new registration of other non-specified vehicles stood at 28 units, registering 80.4% and 89.1% contraction on monthly and yearly basis respectively in July 2021.The registration of trailers witnessed 18.5% and 43.6% decline month-on-month and year-on-year to 22 units this July.The transfer of ownership was reported in 23,222 vehicles this July, which saw a 15.1% and 27.3% decrease month-on-month and year-on-year respectively.The renewal of registration was reported in 56,030 units, which saw 24.4% and 31.2% shrinkage on monthly and yearly basis in the review period.The re-registration of vehicles saw 25.8% and 43.3% decline month-on-month and year-on-year to 72 units in July 2021.The cancelled vehicles stood at 1,805 units, which fell 27.2% month-on-month but witnessed 21.7% growth on a yearly basis in the review period.The modified vehicles shrank 44.8% month-on-month to 3,583 in July 2021. However, it saw a 17.5% expansion year-on-year.The number of lost/damaged vehicles stood at 10,562 units, which fell 28.4% on a monthly basis. It nevertheless grew almost seven-fold year-on-year in July 2021.The number of vehicles meant for exports stood at 1,576, which retarded 27.5% month-on-month in July 2021. It however shot up 43.7% year-on-year.Clearing of vehicle-related processes stood at 102,773 units, which plummeted 22.9% and 18.9% month-on-month and year-on-year in the review period.