The renewal of vehicles’ registration in Qatar saw a double-digit year-on-year growth this April and its share in total registration has been on the rise over the last few months, according to the Planning and Statistics Authority(PSA).
The registration renewal was reported in 83,042 units, which saw 17% growth on yearly basis; even as it was down 11.8% month-on-month. Its share in total registration was as high as 82% in April against 73% in March, 65% in February and 64% in January 2020.
The new and used vehicles segments appear to have taken a toll in the review period, as people by and large have temporarily suspended their purchase/change plans in view of uncertainties, especially due to the Covid-19, market sources said.
The total clearing vehicles were 101,075 units, declining 8.9% and 21.5% year-on-year and month-on-month respectively in the review period.
"It is still not clear how the pandemic will pan out in the economy and to that extend, it will have reflection in the auto sector as well," a market dealer said.
The new vehicles' registration stood at 2,535 in April this year, which saw a 55.6% and 41% decrease on yearly and monthly basis respectively.
The registration of new private vehicles was 1,274, registering 66.8% and 57.5% decline year-on-year and month-on-month respectively in April 2020. These accounted for 50% of the new vehicles registered compared to 70% in March 2020.
The registration of new private transport vehicles stood at 685, which constituted 27% of the total in the review period. Such registrations saw 46.5% and 21.2% shrinkage on yearly and monthly basis respectively in April 2020.
The registration of new motorcycles shrank 14.2% year-on-year but grew 8.8% month-on-month to 297 units or 12% of the new vehicles in April this year.
The registration of new heavy equipment saw 49.6% and 26.9% yearly and monthly plunge respectively to 68 units, which constituted 3% of the total in April 2020.
The registration of new trailers was six, which represented 83.8% and 57.1% contraction year-on-year and month-on-month respectively this April. Trailers constituted less than 1% of the total registration of new vehicles.
The registration of other new vehicles stood at 205, which nevertheless rose three-fold and quadrupled on yearly and monthly basis respectively in the review period.
The transfer of ownership was reported in 13,367 vehicles in the review period, which saw 46.2% and 40.4% shrinkage year-on-year and month-on-month in April 2020.
The auto loans from the commercial banks in the country were on a rough ride with the credit to both the nationals and the expatriates dropping in the review period, the Qatar Central Bank (QCB) data suggests.
According to the QCB data, auto loans for Qataris and expatriates had fallen 21.74% and 27.5% year-on-year respectively during the month in review.
The personal loan segment also saw about 1% and 14.88% shrinkage year-on-year for Qatari and non-Qataris respectively in April 2020.
The re-registration of vehicles saw 85.8% and 65.6% decline year-on-year and month-on-month respectively to 32 in April this year.
The cancelled vehicles stood at 579 units, which witnessed 68.2% and 78.3% fall on a yearly and monthly basis respectively this April.
The modified vehicles were 756 in April this year, which saw 83.1% and 74.4% contraction year-on-year and on a monthly basis respectively.
The number of lost/damaged vehicles was 385; which shrank 77% and 68% on yearly and monthly basis respectively in April 2020.
The new and used vehicles segments appear to have taken a toll in the review period, as people by and large have temporarily suspended their purchase/change plans in view of uncertainties, especially due to the Covid-19, market sources said.
The total clearing vehicles were 101,075 units, declining 8.9% and 21.5% year-on-year and month-on-month respectively in the review period.
"It is still not clear how the pandemic will pan out in the economy and to that extend, it will have reflection in the auto sector as well," a market dealer said.
The new vehicles' registration stood at 2,535 in April this year, which saw a 55.6% and 41% decrease on yearly and monthly basis respectively.
The registration of new private vehicles was 1,274, registering 66.8% and 57.5% decline year-on-year and month-on-month respectively in April 2020. These accounted for 50% of the new vehicles registered compared to 70% in March 2020.
The registration of new private transport vehicles stood at 685, which constituted 27% of the total in the review period. Such registrations saw 46.5% and 21.2% shrinkage on yearly and monthly basis respectively in April 2020.
The registration of new motorcycles shrank 14.2% year-on-year but grew 8.8% month-on-month to 297 units or 12% of the new vehicles in April this year.
The registration of new heavy equipment saw 49.6% and 26.9% yearly and monthly plunge respectively to 68 units, which constituted 3% of the total in April 2020.
The registration of new trailers was six, which represented 83.8% and 57.1% contraction year-on-year and month-on-month respectively this April. Trailers constituted less than 1% of the total registration of new vehicles.
The registration of other new vehicles stood at 205, which nevertheless rose three-fold and quadrupled on yearly and monthly basis respectively in the review period.
The transfer of ownership was reported in 13,367 vehicles in the review period, which saw 46.2% and 40.4% shrinkage year-on-year and month-on-month in April 2020.
The auto loans from the commercial banks in the country were on a rough ride with the credit to both the nationals and the expatriates dropping in the review period, the Qatar Central Bank (QCB) data suggests.
According to the QCB data, auto loans for Qataris and expatriates had fallen 21.74% and 27.5% year-on-year respectively during the month in review.
The personal loan segment also saw about 1% and 14.88% shrinkage year-on-year for Qatari and non-Qataris respectively in April 2020.
The re-registration of vehicles saw 85.8% and 65.6% decline year-on-year and month-on-month respectively to 32 in April this year.
The cancelled vehicles stood at 579 units, which witnessed 68.2% and 78.3% fall on a yearly and monthly basis respectively this April.
The modified vehicles were 756 in April this year, which saw 83.1% and 74.4% contraction year-on-year and on a monthly basis respectively.
The number of lost/damaged vehicles was 385; which shrank 77% and 68% on yearly and monthly basis respectively in April 2020.