Qatar’s automobile sector registered about 6% year-on-year growth in January 2020, mainly paced by private vehicles’ new registration, according to the Planning and Statistics Authority (PSA).
However, auto loans from the commercial banks in the country were on a rough ride with the credit to both the nationals and the expatriates registering declines in the review period, according to Qatar Central Bank (QCB) data.
The new vehicles registration stood at 5,925 in January this year, which however saw a 1.5% decline month-on-month.
The new registration of private vehicles reported about 11% rise to 4,354 units, which accounted for 73% of the new vehicles. On a monthly basis, it showed more than 5% increase in the review period.
According to QCB data, auto loans for Qataris and expatriates fell 18% and 27% respectively during the month in review.
The new registration of private transport vehicles stood at 1,129; constituting 19% of the total in the review period. Such registrations witnessed about 2% growth on yearly basis, even as it fell 7% month-on-month respectively in January 2020.
The new registrations of private motorcycles were 190, or 3%, of the new vehicles in January this year. The new registration fell 42% on yearly and monthly basis respectively.
The new registration of heavy equipment saw an 8% yearly fall to 107 units, constituting 2% of the total in January 2020. On a monthly basis, the new registration plummeted 53%.
The new registration of trailers shrank about 22% to 54; even as it saw a 23% increase month-on-month this January. It constituted a little over 1% of total new vehicles.
The new registration of other vehicles stood at 91, which registered 57% and 91% increase year-on-year and month-on-month respectively in the review period.
The PSA data also revealed that in the case of renewal of vehicles, it stood at 73,449 in January this year, registering a 4% decline year-on-year but saw more than 9% jump month-on-month.
The transfer of ownership was reported in 25,938 vehicles in the review period, which saw more than a 4% jump on a yearly and monthly basis.
The re-registration of vehicles saw more than 54% growth year-on-year to 202 in January 2020, while it fell about 17% on a monthly basis.
The cancelled vehicles stood at 1,804 units, which witnessed 26% and 15% declines year-on-year and month-on-month respectively this January.
The total number of clearing vehicles saw about a 2% shrinkage on a yearly basis to 114,718 in January 2020; where it registered about 7% growth month-on-month
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