Qatar's automobile sector records a robust double-digit y-o-y growth in March

Faster sales of private vehicles and trailers led Qatar's automobile sector record a robust double-digit year-on-year (y-o-y) growth in March 2024, according to the National Planning Council (NPC).

The country saw 7,835 new vehicles registered this March jumping 10.5% and 8.4% year-on-year and month-on-month respectively in the review period, which saw a total of 7,936 driving licenses issued in March 2024 with non-Qatari males constituting 6,254 or 79% of the total, non-Qatari females 1,252 or 16%, Qatari males 239 or 3% and Qatari females 191 or 2%.

The registration of new private vehicles stood at 6,039; which surged 23.5% and 9% on yearly and monthly basis respectively in March 2024. Such vehicles constituted 77.07% of the total new vehicles registered in the country in the review period.

As many as 37 trailers were registered in March 2024, which shot up 27.6% and 8.8% year-on-year and month-on-month respectively. These constituted 0.61% of the total new vehicles in the review period.

The registration of new private transport vehicles stood at 1,240; which zoomed 12.4% and 27.7% year-on-year and month-on-month respectively in March 2024. Such vehicles constituted 20.53% of the total new vehicles in the review period.

The registration of new private motorcycles stood at 225 units, which was down 2.6% on an annualised basis but soared 58.5% month-on-month in March 2024. These constituted 3.73% of the total new vehicles in the review period.

The new registration of other non-specified vehicles stood at 203 units, which plummeted 70.1% and 51.9% respectively year-on-year and month-on-month respectively in March 2024. These constituted 3.36% of the total new vehicles registered in the country in the review period.

The registration of new heavy equipment stood at 91, which constituted 1.51% of the total registrations this March. Their registrations had seen 43.1% and 26.6% contraction year-on-year and month-on-month respectively in the review period.

The registration was renewed in 75,056 vehicles, which saw a 4.7% decline on a yearly basis but grew 3.2% month-on-month in March 2024. It constituted 55.87% of the clearing of vehicle-related processes in the review period.

The transfer of ownership was reported in 33,378 vehicles in March 2024, which shrank 6.8% on an annualised basis but increased 8.3% on a monthly basis. It constituted 24.85% of the clearing of vehicle-related processes in the review period.

The lost/damaged vehicles stood at 9,600 units, which shot up 63.3% and 16.2% year-on-year and month-on-month respectively in March 2024. They constituted 7.15% of the clearing of vehicle-related processes in the review period.

The modified vehicles’ registration stood at 3,759; which tanked 40.7% and 3.9% year-on-year and month-on-month respectively in March 2024. They constituted 2.8% of the clearing of vehicle-related processes in the review period.

The number of vehicles meant for exports stood at 2,687 units, which zoomed 53.5% year-on-year but was down 2.4% on a monthly basis in March 2024. It constituted 2% of the clearing of vehicle-related processes in the review period.

The number of cancelled vehicles was 1,776; dropping 47.6% and 17.1% year-on-year and month-on-month respectively this March. They constituted 1.32% of the clearing of vehicle-related processes in the review period.

The re-registration was done in 123 vehicles, which grew 7% on an annualised basis but declined 3.9% month-on-month in March 2024.

The clearing of vehicle-related processes stood at 134,343 units, which was down 3.4% year-on-year but expanded 5% on a monthly basis in the review period.