The report “Qatar Auto Finance Market Outlook to 2026F– Driven by Increasing Vehicle Prices and Low Interest Rate in The Country” by Ken Research provides a comprehensive analysis of the potential of Auto Finance industry in Qatar. The report also covers an overview and genesis of the industry, market size in terms of credit disbursed; market segmentation by types vehicle financed, by tenure for new and used vehicles, types of lenders, by types of commercial and passenger vehicles; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Qatar Automotive Overview
Qatar does not manufacture and export motor vehicles itself, however they do re-export motor vehicles. Qatar majorly exports vehicles from Japan, Germany and USA.
In 2019, Qatar re-exported $ ~ Mn worth of Motor Vehicles. Electric vehicle (EV) adoption is still at an early stage, but Qatar is taking serious steps towards electrification. It aims to have ~% of Qatar’s public transit bus fleet from gasoline to electric by 2022. Qatar has automotive investments in several countries, including bus production in Oman and vehicle production in Turkey. The Qatar Investment Authority also owns a stake in German carmaker, Volkswagen
How Is Auto Finance Market Positioned In Qatar?
The Qatar auto finance market experienced a downfall due to factors like Covid outbreak and reduction in population of expats in the country. Covid impacted the production in the market, car manufacturers couldn’t predict the vehicles demand in the future and hence miscalculated the production requirements. The rise in the sale of motorcycles for online food delivery business is contributing in recovery of auto finance sector in the country post COVID-19. Competition is increasing among banks, NBFCs and captives which forced banks to rethink their lending strategy in order to maintain their high market share. Banks are providing 100% and 80% finance for electric and hybrid car/vehicles to Qatari customers and expats to reward them for making an environmentally-friendly choice. This is expected to attract the consumers to opt for auto financing in the country.
Qatar Auto Finance Market Segmentations
By Type of Vehicle: Used vehicle would have a greater demand in the market post COVID-19 since there is shortage in manufacturing and supply of new vehicles. The market is regaining at a steady rate due to increasing demand for personal vehicle post Covid.
By Tenure of Loan for Old Vehicles: Sales of new cars is expected to decline as public transport infrastructure has been improving drastically with the investment of around $ 70 billion in transportation projects in the country.
By Tenure of Loan for New Vehicles: Usually, period of 3 to 4 years is the most common loan tenure for vehicle in the country.
By Type of Commercial and Passenger Motor Vehicle: The commercial vehicle segment is dominating the Qatar Auto Finance Market.
By Type of Passenger Motor Vehicle: In passenger vehicle, the share of 4W is largest because the price of car is comparatively higher than 2W and others.
By Type of Lending Bank: Qatar National Bank is the largest government bank in Qatar and it has subsidiaries and associate companies in more than 30 countries across three continents.
By Type of Commercial Motor Vehicle:
LCV is the majorly used commercial vehicle in Qatar because it is used in transportation of goods. Also, the country is growing its e-commerce which help LCV segment to grow in the country.
By Type of Lenders: Bank is dominant in the auto finance market in Qatar because banks are legally recognized and more reliable source of financing.
Industry Analysis of Qatar Auto Finance Market
- National Vision 2030 and FIFA World Cup 2022: Increased Government spending on infrastructure and employment leading to an increase in per capita income and wages would lead to higher sales of automotive and boost auto finance market.
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- Post-Covid Recovery: Covid-19 and Work from Home culture affected sales of Automotive industry. However, 2022 onwards it is expected that sales will recover as offices will re-open and commercial activities will increase.
Bottlenecks and Challenges in Qatar Auto Finance Market
- Trade Embargo: Automotive continued to experience a slowdown due to the Trade Embargo imposed on Qatar by UAE, Bahrain and Egypt.
- Time consuming process: Often high amount of paperwork is required for a salesperson and customer to complete an average car loan application.
Key Segments Covered
Qatar Auto Finance:
- By Type of Vehicle financed
- New
- Used
- By Tenure (for New and Old Vehicles):
- 1 year
- 2 years
- 3 years and more
- By Type of Lender:
- Banks
- OEMs/Captives
- NBFC
- By Type of Lending Bank:
- Government
- Private
- By Type of Commercial and Passenger Motor Vehicle:
- Commercial
- Passenger
- By type of commercial motor Vehicle:
- LMV
- MCV
- HCV
- By Type of passenger motor vehicle
- 4W
- 2W and others
Key Target Audience
- Qatar Auto Industries
- Government Bodies & Regulating Authorities
- Finance Industry
- Car company
- Automobile dealers and users
Time Period Captured in the Report:
- Historical Year: 2016-2021
- Base Year: 2021
- Forecast Period: 2021– 2026F
Companies Covered:
- Qatar National Bank
- Doha Bank
- Commercial Bank
- Al khaliji commercial bank
- Ahli bank
- Qatar Islamic International Bank
- Qatar Islamic Bank
- Dukhan bank
- Masraf Al Rayan
- HSBC
- Standard Chartered Check
- International Bank of Qatar
- First Finance Company
- Al Jazeera Finance
Key Topics Covered in the Report
- Qatar Automotive Market Overview
- Ecosystem of Qatar Auto Finance Market
- Qatar Auto Finance Value Chain Analysis
- Business Cycle and Timeline of Major Banks in Qatar Auto Finance Market
- Market Sizing Analysis of Qatar Auto Finance Market, 2016-2021
- Qatar Auto Finance Market Segmentation
- SWOT Analysis of Qatar Auto Finance Industry
- Trends and Developments in Qatar Auto Finance Industry
- Decision Making Parameter for Selecting Car Loan Vendor
- Issues and Challenges in Qatar Auto Finance Industry
- Growth Drivers of the Qatar Auto Finance Market
- Government Policies and Initiatives for Qatar Auto Finance Industry
- COVID-19 Impact on Qatar Auto Finance Market
- Competition Framework for Qatar Auto Finance
- Future Outlook and Projections of the Qatar Auto Finance Market
- Market Opportunities and Analyst Recommendations
For more information on the research report, refer to below link: -
Qatar Auto Finance Market Outlook to 2026F: Ken Research
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