Qatar’s automobile market records robust growth in May

Qatar’s automobile sector registered a robust year-on-year growth in May 2019, especially the sales of trailers and private cars. The sales of private vehicles, including cars and SUVs, increased to 4,149 in May, witnessing a double-digit growth of 12.3 percent compared to 3,696 in the corresponding month last year, official data show.

When compared on monthly basis, the registration of private vehicles in May increased by 7 percent compared to 3,843 in the previous month (April 2019). The sales of new private vehicles accounted for 73 percent of the total number of new registered vehicles (5,665) in May this year, according latest monthly figures released by the Planning and Statistics Authority.

The registration of new trailers, which usually finds use in Qatar’s booming construction and transport sector, increased to 60 units in May 2019, up by over 62 percent compared to 37 units sold in April this year.

The total registration of new vehicles in May 2019 reached 5,665 witnessing a year-on-year growth of 4.1 percent compared to 5,443 in the same month last year. When compared on monthly basis, the overall registration of new vehicles (all categories put together) in May saw a marginal decline of 0.7 percent against 5,705 in April 2019.

The registration of motorcycles also witnessed a robust growth. The sales of private motor-bikes in May stood at 200 units recording a year-on-year growth of 7 percent. When compared on monthly basis, it has noticed a 20 percent fall compared to 346 units sold in April 2019. This is understandably due to the summer season when sales of motorbikes usually drop.

The registration of new heavy equipment, such as earth movers, forklifts, road rollers and other vehicles increased to 164 units in May this year, recording a monthly growth of 21.5 percent.

And the registration of vehicles classified in the ‘Others’ category saw a record growth of 373.3 percent in May 2019 against May 2018. When compared on monthly basis, it has increased by 12.7 percent compared to April 2019.

When analysed the monthly figures for the new registration of vehicles (of all categories combined) over the last one yea (from May 2018 to May 2018), we find that the sales curve is moving ahead in the growth trajectory since August last year (3,818). The sales of new vehicles had peaked to over 6,300 in March 2019 this year.

Source from: The Peninsula