Sharp rise in registration of vehicles in Aug: PSA

* Huge jump also seen in issuance of new driving licences

 

Qatar's automobile sector witnessed robust demand generation in the new vehicles segment this August as there was a double-digit growth in the registration of vehicles for private use and transport, according to the official data.The new registration also maintained a bullish outlook month-on-month in the review period, said the figures released by the Planning and Statistics Authority (PSA).The new vehicle registration stood at 6,984, representing a 53% and 28.4% leap year-on-year and month-on-month respectively in the review period.The registration of private vehicles stood at 4,658, which registered a 62.5% and 39.6% increase year-on-year and month-on-month respectively in August 2021. Such vehicles constituted 66.69% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 1,624; which showed 55.3% and 11.5% growth on yearly and monthly basis respectively. Such vehicles constituted 23.25% of the total new vehicles in August 2021.Meanwhile, 7,791 new driving licences were issued in August 2021, which marked a 55.2% increase over July 2021 (5,020 licences) and a 99.5% rise over August 2020 (3,906 licences), the data showed.According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari were seen declining 29.23% and 19.23% year-on-year respectively to QR1.11bn and QR0.21bn this August.The personal loans to Qataris reported 36.49% surge year-on-year to QR81.32bn; whereas those non-Qataris were down 9.25% to QR8.54bn in the review period.The overall consumption credit to nationals grew 11.79% year-on-year to QR144.52bn; while that to non-Qataris shrank 9.73% to QR11.6bn in August this year.The registration of new private motorcycles stood at 412, which expanded 52% and 38.7% year-on-year and month-on-month respectively in the review period. Such registrations constituted 5.90% of the new vehicles registered in August 2021.Nevertheless, the registration of new heavy equipment plummeted 25.3% and 31% on yearly and monthly basis respectively to 207, which constituted 2.96% of the new vehicles registered in the review period.The new registration of other non-specified vehicles stood at 52 units, which shrank 3.7% year-on-year but shot up 85.7% month-on-month in August 2021.The registration of trailers witnessed a stupendous 39.2% plunge to 31 units in August 2021. On a monthly basis, it however registered 40.9% growth this August.The renewal of registration was reported in 63,320 units, which saw 36.9% and 13% incline on yearly and monthly basis respectively in the review period.The transfer of ownership was reported in 27,603 vehicles this August, which saw a 6.8% decline year-on-year but witnessed 18.9% jump month-on-month.The re-registration of vehicles saw 18.1% growth each year-on-year and month-on-month to 85 units in August 2021.The cancelled vehicles stood at 2,277 units, which zoomed 57.5% and 26.1% year-on-year and month-on-month in the review period.The modified vehicles shrank 30.1% and 24.4% year-on-year and month-on-month respectively to 4,459 in August 2021.The number of lost/damaged vehicles stood at 11,533 units, which grew about five-fold on a yearly basis. It was up 9.2% month-on-month in August 2021.The number of vehicles meant for exports stood at 2,106, which soared 57.5% and 33.6% year-on-year and month-on-month respectively in August 2021.Clearing of vehicle-related processes stood at 118,510 units, which expanded 33.2% and 15.9% year-on-year and month-on-month respectively in the review period.(Ends)