Strong demand – especially for the private vehicles, motorcycles and trailers – helped Qatar's automobile sector post a double-digit growth in new registrations this February, according to the latest official statistics.
The new vehicle registration stood at 6,900; representing a 34.2% increase on a yearly basis but fell 13.6% month-on-month in the review period basis, said the data released by the Planning and Statistics Authority (PSA).
The registration of new private vehicles stood at 4,352, registering a 28% and 1.9% growth year-on-year and month-on-month respectively in February 2022. Such vehicles constituted more than 63% of the total new vehicles registered in the country in the review period.
The registration of new private transport vehicles stood at 1,269; which showed a 21.6% expansion on a yearly basis but shrank 26% on a monthly basis. Such vehicles constituted more than 18% of the total new vehicles in February 2022.
According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari stood at QR0.95bn and QR0.2bn, which declined 26.92% and 16.67% respectively on a yearly basis in the review period.
Personal loans to Qataris reported a 78.87% surge year-on-year to QR87.77bn and those to non-Qataris by 6.93% to QR8.79bn in the review period.
The overall consumption credit to nationals grew 6.04% year-on-year to QR149.38bn and that to non-Qataris by 8.54% to QR11.95bn in February 2022.
The registration of new private motorcycles almost tripled on a yearly basis to 1,010 units but fell 31.2% month-on-month. These constituted about 15% of the total new vehicles in February 2022.
The registration of trailers stood at 64 units, which witnessed 137% and 52.4% surge year-on-year and month-on-month respectively in the review period.
The registration of new heavy equipment stood at 193, which constituted about 3% of the total registration in the review period. Their registrations had seen 18.2% and 13.8% decline on yearly and monthly basis respectively.
The new registration of other non-specified vehicles stood at 12 units, which plummeted 81.3% and 95.5% year-on-year and month-on-month.
The renewal of registration was reported in 67,665 units, which saw an 8% growth year-on-year but fell 9.5% month-on-month this February.
The transfer of ownership was reported in 30,392 vehicles in February 2022, which saw a 12.3% expansion on a yearly basis but was down 0.9% month-on-month.
The re-registration of vehicles saw a 28.3% jump year-on-year to 127 units. On a monthly basis, it saw 22.1% shrinkage in the review period.
The modified vehicles’ registration stood at 4,101, which saw a 23.2% surge on a yearly basis but fell 8.7% month-on-month in February 2022.
The cancelled vehicles stood at 2,525 units, which shot up 61.3% year-on-year but declined 4% month-on-month in the review period.
The number of lost/damaged vehicles stood at 8,462 units, which dipped 8.9% and 12.4% yearly and monthly basis respectively in February 2022.
The number of vehicles meant for exports stood at 1,741 units, which zoomed 20.1% and 0.3% year-on-year and month-on-month this February.
The clearing of vehicle-related processes stood at 121,890 units, which expanded 10.3% on a yearly basis but was down 7.6% on a monthly basis in the review period.
The new vehicle registration stood at 6,900; representing a 34.2% increase on a yearly basis but fell 13.6% month-on-month in the review period basis, said the data released by the Planning and Statistics Authority (PSA).
The registration of new private vehicles stood at 4,352, registering a 28% and 1.9% growth year-on-year and month-on-month respectively in February 2022. Such vehicles constituted more than 63% of the total new vehicles registered in the country in the review period.
The registration of new private transport vehicles stood at 1,269; which showed a 21.6% expansion on a yearly basis but shrank 26% on a monthly basis. Such vehicles constituted more than 18% of the total new vehicles in February 2022.
According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari stood at QR0.95bn and QR0.2bn, which declined 26.92% and 16.67% respectively on a yearly basis in the review period.
Personal loans to Qataris reported a 78.87% surge year-on-year to QR87.77bn and those to non-Qataris by 6.93% to QR8.79bn in the review period.
The overall consumption credit to nationals grew 6.04% year-on-year to QR149.38bn and that to non-Qataris by 8.54% to QR11.95bn in February 2022.
The registration of new private motorcycles almost tripled on a yearly basis to 1,010 units but fell 31.2% month-on-month. These constituted about 15% of the total new vehicles in February 2022.
The registration of trailers stood at 64 units, which witnessed 137% and 52.4% surge year-on-year and month-on-month respectively in the review period.
The registration of new heavy equipment stood at 193, which constituted about 3% of the total registration in the review period. Their registrations had seen 18.2% and 13.8% decline on yearly and monthly basis respectively.
The new registration of other non-specified vehicles stood at 12 units, which plummeted 81.3% and 95.5% year-on-year and month-on-month.
The renewal of registration was reported in 67,665 units, which saw an 8% growth year-on-year but fell 9.5% month-on-month this February.
The transfer of ownership was reported in 30,392 vehicles in February 2022, which saw a 12.3% expansion on a yearly basis but was down 0.9% month-on-month.
The re-registration of vehicles saw a 28.3% jump year-on-year to 127 units. On a monthly basis, it saw 22.1% shrinkage in the review period.
The modified vehicles’ registration stood at 4,101, which saw a 23.2% surge on a yearly basis but fell 8.7% month-on-month in February 2022.
The cancelled vehicles stood at 2,525 units, which shot up 61.3% year-on-year but declined 4% month-on-month in the review period.
The number of lost/damaged vehicles stood at 8,462 units, which dipped 8.9% and 12.4% yearly and monthly basis respectively in February 2022.
The number of vehicles meant for exports stood at 1,741 units, which zoomed 20.1% and 0.3% year-on-year and month-on-month this February.
The clearing of vehicle-related processes stood at 121,890 units, which expanded 10.3% on a yearly basis but was down 7.6% on a monthly basis in the review period.