The automobile sector in Qatar appears to be in the fast lane with it witnessing about 4% annual growth in November, mainly paced by private vehicles’ new registration, according to the Planning and Statistics Authority (PSA) data.
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The new vehicles registration stood at 5,690 in November last year, which however saw 13.5% decline month-on-month.
According to the central bank data, auto loans for Qataris and expatriates had fallen 18% and 30% respectively during the month in review. Personal loans for Qataris had fallen marginally by about 1%; while those to expatriates recorded about 3% growth.
The new registration of trailers surged more than 64% to 64; indicating the increased commercial activities in the country. It saw 28% increase month-on-month in November 2019. It constituted a little over 1% of total new vehicles.
The new registration of private transport vehicles stood at 962; constituting 17% of the total in the review period. Such registration, however, fell 18% and 23% year-on-year and month-on-month respectively in November 2019.
The new registrations of private motorcycles were 228 or 4% of the new vehicles in November last year. The new registration fell 49% and 24% on yearly and monthly basis, respectively.
The new registration of heavy equipment saw a marginal 0.8% jump to 121 units, constituting 2% of the total in November 2019. On a yearly basis, the new registration declined 5%.
The new registration of other vehicles stood at 131, more than tripling year-on-year in November 2019. On a monthly basis, it, however, witnessed 42% dip in the review period.
The PSA data also revealed that in the case of renewal of vehicles, it stood at 62,421 in November last year, registering 1% and 11% decline year-on-year and month-on-month respectively.
The transfer of ownership was reported in 24,448 vehicles in the review period, which saw about 7% rise on a yearly basis; while it was down 10% month-on-month.
The re-registration of vehicles more than tripled year-on-year to 341 in November 2019 and on a monthly basis, it grew about 42%.
During the period, total number of driving licenses recorded 3% year-on-year jump to 8,090; of which non-Qatari males constituted 5,176 (about 64% of the total) and non-Qatari females 2,421 (30%).
On a monthly basis, total number of driving licenses witnessed more than 10% decline.
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