New vehicle registrations in Qatar witnessed a healthy double digit year-on-year growth on the back of robust demand, mainly for private vehicles and motorcycles, according to official statistics.
The new vehicle registration stood at 6,771; representing a 19.3% increase on a yearly basis; even as it declined 8.4% month-on-month in the review period, according to figures released by the Planning and Statistics Authority (PSA).
The registration of new private vehicles stood at 4,071, which posted a 22.7% growth year-on-year but shrank 22.4% on a monthly basis in October 2021. Such vehicles constituted 60.12% of the total new vehicles registered in the country in the review period.
The registration of new private transport vehicles stood at 1,759; which showed a 0.9% and 22.7% growth year-on-year and month-on-month respectively. Such vehicles constituted 25.98% of the total new vehicles in October 2021.
According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari were seen declining 29.33% and 16% year-on-year respectively to QR1.06bn and QR0.21bn this October.
Personal loans to Qataris reported a 36.06% surge year-on-year to QR82.37bn; whereas those for non-Qataris were down 1.34% to QR8.86bn in the review period.
The overall consumption credit to nationals grew 11.55% year-on-year to QR146.24bn; while that to non-Qataris shrank 10.56% to QR11.94bn in October this year.
Registration of new private motorcycles stood at 647 units, which registered 196.8% and 84.3% surge on yearly and monthly basis respectively. These constituted 9.56% of the total new vehicles in October 2021.
However, the registration of new heavy equipment shrank 8.7% and 15.7% year-on-year and month-on-month respectively to 220, which constituted 3.25% of the new vehicles registered in the review period.
New registration of other non-specified vehicles stood at 34 units, which fell 66.7% and 54.1% year-on-year and month-on-month respectively in October 2021.
Registration of trailers stood at 40, which witnessed a 24.5% decline on a yearly basis but shot up 60% month-on-month this October.
Renewal of registration was reported in 65,045 units, which saw an 8% and 4.1% increase year-on-year and month-on-month respectively in the review period.
Transfer of ownership was reported in 31,366 vehicles this October, which saw a 4.8% and 4.6% increase on yearly and monthly basis respectively.
Re-registration of vehicles was seen more than doubling year-on-year to 279 units in October 2021. On a monthly basis, it shrank 14.2%.
Cancelled vehicles stood at 2,122 units, which rose 42.4% and 7.4% year-on-year and month-on-month respectively in the review period.
Modified vehicles declined 4% to 4,265 units on a yearly basis but grew 1.1% month-on-month in October 2021.
The number of lost/damaged vehicles stood at 10,244 units, which almost doubled on a yearly basis. It was up 3.6% month-on-month in October 2021.
The number of vehicles meant for exports stood at 1,906 which soared 24.3% year-on-year but fell 15.3% month-on-month respectively this October
Clearing of vehicle-related processes stood at 121,827 units, which expanded 12.3% and 2.9% year-on-year and month-on-month respectively in the review period.