Fresh registration of private vehicles, heavy equipment outpace y-o-y overall new vehicles sales in September: PSA

The fresh registration of private vehicles and heavy equipment outpaced the total sales of new vehicles year-on-year in September, hinting at demand generation and the bouncing back of economy.Both the segments maintained the bullish sentiments month-on-month during the review period, said the figures released by the Planning and Statistics Authority (PSA).The new vehicle registration stood at 7,388; representing a 19.3% and 5.8% leap year-on-year and month-on-month respectively in the review period.The registration of new private vehicles stood at 5,243, which registered a 25.9% and 12.6% increase year-on-year and month-on-month respectively in September 2021. Such vehicles constituted 70.96% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 1,434; which showed a 6.9% growth on a yearly basis even as it shrank 11.7% on a monthly basis. Such vehicles constituted 19.41% of the total new vehicles in September 2021.According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari were seen declining 28.76% and 16% year-on-year respectively to QR1.09bn and QR0.21bn this September.The personal loans to Qataris reported 37.26% surge year-on-year to QR82.4bn; whereas those non-Qataris were down 5.22% to QR8.72bn in the review period.The overall consumption credit to nationals grew 10.72% year-on-year to QR145.02bn; while that to non-Qataris shrank 5.83% to QR11.79bn in September this year.The registration of new heavy equipment shot up 23.7% and 26.1% year-on-year and month-on-month respectively to 261, which constituted 3.53% of the new vehicles registered in the review period.The registration of new private motorcycles stood at 351 units, which registered 2.9% jump on a yearly basis even as it declined 14.8% month-on-month. These constituted 4.75% of the total new vehicles in September 2021.The new registration of other non-specified vehicles stood at 74 units, which plummeted 26% year-on-year but shot up 42.3% month-on-month in September 2021.The registration of trailers witnessed a 24.2% and 19.4% plunge on yearly and monthly basis respectively to 25 units this September.The renewal of registration was reported in 62,508 units, which saw a 27% surge year-on-year but was down 1.3% month-on-month in the review period.The transfer of ownership was reported in 29,999 vehicles this September, which saw a 2.4% and 8.7% increase on yearly and monthly basis respectively.The re-registration of vehicles was seen more than tripling year-on-year to 325 units in September 2021. On a monthly basis, it almost quadrupled.The cancelled vehicles stood at 1,976 units, which rose 10.6% year-on-year but saw 13.2% contraction month-on-month in the review period.The modified vehicles expanded 11.2% to 4,219 units on a yearly basis but shrank 5.4% month-on-month in September 2021.The number of lost/damaged vehicles stood at 9,886 units, which more than doubled year-on-year. It was however down 14.3% month-on-month in September 2021.The number of vehicles meant for exports stood at 2,250 which soared 41.4% and 6.8% year-on-year and month-on-month respectively in September 2021.Clearing of vehicle-related processes stood at 118,350 units, which expanded 23.2% year-on-year but fell by a marginal 0.1% month-on-month in the review period.