Private vehicles, motorcycles' sales rev up Qatar's auto sector year-on-year in June: PSA

Qatar's automobile sector went in an overdrive in June 2022 on an annualised basis, paced by sales of new private vehicles and motorcycles, according to the official data.The new vehicle registrations stood at 8,011; representing a sharp 53.1% and 22.6% increase year-on-year and month-on-month respectively, said the figures released by the Planning and Statistics Authority (PSA).The registration of new private vehicles stood at 4,955, which posted a 64.2% and 8.3% surge on yearly and monthly basis respectively in June 2022. Such vehicles constituted about 62% of the total new vehicles registered in the country in the review period.The registration of new private transport vehicles stood at 1,494; which grew 3.4% and 55.6% year-on-year and month-on-month respectively in June 2022. Such vehicles constituted about 19% of the total new vehicles in the review period.According to the Qatar Central Bank data, auto loans to Qataris and non-Qatari were seen declining 23.93% and 9.09% year-on-year respectively to QR0.89bn and QR0.2bn in June 2022.Personal loans to Qataris reported an 85.7% surge year-on-year to QR89.99bn and those for non-Qataris by 17.31% to QR9.49bn in the review period.The overall consumption credit to nationals grew 4.3% on an annualised basis to QR151.64bn and that to non-Qataris by 18.27% to QR12.82bn in June 2022.The registration of new private motorcycles more than tripled on a yearly basis to 1,123 units and it reported a sharp 63.9% expansion month-on-month in June 2022. These constituted more than 14% of the total new vehicles in the review period.The registration of new heavy equipment stood at 208, which constituted about 3% of the total registration this June. Their registrations had seen 13% shrinkage on an annualised basis but shot up 14.3% on monthly basis.The new registration of other non-specified vehicles stood at 185 units, which grew 29.4% on a yearly basis and more than doubled on a monthly basis in the review period.The registration of trailers stood at 46 units, which saw a 70.4% and 9.5% expansion on annualised and month-on-month basis respectively in the review period.The renewal of registration was reported in 71,494 units, which saw a 3.5% decline year-on-year but jumped 22.2% on a monthly basis this June.The transfer of ownership was reported in 33,822 vehicles in June 2022, which zoomed 23.6% and 20.1% year-on-year and month-on-month respectively.The re-registration of vehicles stood at 155, which reported 59.8% and 96.2% jump on yearly and monthly basis respectively this June.The modified vehicles’ registration stood at 8,137, which saw a 25.4% and 4.7% expansion year-on-year and month-on-month basis respectively in June 2022.The cancelled vehicles stood at 2,697 units, which shot up 8.8% and 40.1% year-on-year and month-on-month respectively in the review period.The number of lost/damaged vehicles stood at 8,840 units, which declined 40% year-on-year but zoomed 17.1% on monthly basis in June 2022.The number of vehicles meant for exports stood at 2,105 units, which shrank 3.1% on an annualised basis whereas it grew 34% month-on-month this June.The clearing of vehicle-related processes stood at 135,418 units, which expanded 2.1% and 20.8% on a yearly and monthly basis respectively in the review period.