The double-digit yearly growth in the used vehicles segment as well as in new motorcycles, heavy equipment and private transport accelerated Qatar’s automobile sector in November 2020, as the authorities substantially lifted Covid-19-related restrictions, according to figures released by the Planning and Statistics Authority (PSA).
Of the new 5,069 vehicles registered in November 2020, new private vehicles stood at 3,337 – recording a marginal 0.6% growth on a monthly basis but witnessed 20.2% shrinkage year-on-year. These accounted for 66% of the new vehicles registered in the review period.
Registration of new private transport vehicles stood at 1,024; which constituted 20% of the total new vehicles in the review period. Such registrations saw 41.3% shrinkage month-on-month but grew 6.4% on a yearly basis in November 2020.
According to the Qatar Central Bank data, auto loans for Qataris fell 29% year-on-year but saw about 2% growth for expatriates during the month in review.
The personal loan segment saw 22.58% and 34.04% shrinkages year-on-year for Qataris and non-Qataris respectively in November 2020.
Registration of new motorcycles stood at 404, posting 85.3% and 77.2% month-on-month and year-on-year expansions respectively in November 2020. Such registrations constituted about 8% of the new vehicles registered in the review period.
Registration of new heavy equipment reported 4.1% monthly growth to 251. On a yearly basis, it more than doubled in November 2020. It constituted 5% of the new vehicles in the review period.
Registration of new trailers stood at 21 units, which declined 60.4% and 67.2% month-on-month and year-on-year respectively in November 2020.
New registration of other non-specified vehicles stood at 32, which fell 68.6% and 75.6% on monthly and yearly basis respectively in November 2020.
Transfer of ownership was reported in 28,891 vehicles in the review period, which saw a 18.2% growth year-on-year but was down 3.5% month-on-month.
Renewal of registration was reported in 64,048 units, which saw a 2.6% and 6.3% jumps month-on-month and year-on-year in November 2020.
Re-registration of vehicles stood at 94 units, which saw 72.4% and 11.3% shrinkages on yearly and monthly basis respectively in November 2020.
Cancelled vehicles stood at 1,899 units, which witnessed a 19.2% decline year-on-year but saw a 27.4% surge month-on-month in November last year.
Modified vehicles were 4,865 in November 2020, which saw 14.2% and 9.4% expansions on monthly and yearly basis respectively.
The number of lost/damaged vehicles was 9,043; which grew more than six-fold year-on-year and more than doubled month-on-month in November 2020.
The number of vehicles meant for exports were 1,547; which soared 33.4% and 0.8% on yearly and monthly basis respectively in November 2020.
Clearing of vehicle-related processes stood at 115,427 units, which rose 13% and 6.4% year-on-year and month-on-month in the review period.