Qatar auto finance market is in mature stage as there is moderate growth due to increasing demand for two-wheeled vehicles: Ken Research
Driven by rising vehicle prices and low interest rates in the country, the Qatar auto finance market has seen some growth from commercial vehicles post covid-19.
Qatar Auto Finance Market Overview: The auto finance market in Qatar is highly price driven. In the country, a great price consciousness is observed among the population. New car financing is more prevalent in the country, especially after covid-19. Banks have been the dominant players as they have a huge pre-built database which they exploit to their own advantage and use to grant loans at low interest rates.
Growth Drivers for Qatar Auto Finance Market: Qatar auto finance industry has witnessed a major shift with the announcement of the Qatar National Vision 2030 in which massive economic targeting plans could help the auto finance market to the most important way possible. The move towards sustainability, which was also heralded in the Qatar National Vision 2010 and Electric Vehicles (Evs), will to a large extent boost the green finance and auto lending industry.
Government regulations in the car finance market: The Ministry of Economy and Trade sets guidelines for car dealerships in Qatar regarding performance, standards and manufacturing of parts and components. Vehicle owners are required to register their newly purchased vehicles with the Ministry of Home Affairs (MOI). Registration is compulsory for new and used vehicles. Banking activities in Qatar are authorized by the Qatar Central Bank (QCB). All legal persons involved in banking activity must apply for a license.
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Qatar Auto Finance Market Issues and Challenges: Growth will not be exponential in the auto finance market after the Covid outbreak and shortage of semiconductor chips. The 2W market is weak due to the preference of 4W according to the luxurious lifestyle of the people. Moreover, the decrease in expatriate population due to government policies decreases the demand for car loans. The analysis shows that many small car dealerships and financial institutions are unable to keep up with the rapid increase in technology in the industry, leading to their potential exit from the market.
Ken Research analysts in their latest publication “Qatar Auto Finance Market Outlook to 2026F- Driven by Changing Vehicle Prices and Low-Interest Rate in The Country” by Ken Research observed that the Qatar auto finance market has experienced a decline in historical growth rate. period. The shortage of semiconductor chips, shrinking expatriate population and the impact of COVID 19 have led to reduced demand for car loans in the country. However, growing awareness of auto financing among the population, along with increasing lending facilities, customer taste and preferences, and implementation of favorable government rules and regulations are expected to contribute to the growth. market during the forecast period. The Qatar auto finance market is expected to grow at a CAGR of 2.8% over the forecast period 2021-2026F.
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Key Segments Covered
Qatar Auto Finance:
By type of vehicle financed
New
Used
By mandate (for new and old vehicles):
1 year
2 years
3 years and over
By type of lender:
Banks
OEMs/captives
NBFC
By type of lending bank:
Government
Private
By type of commercial and passenger vehicle:
Commercial
Passenger
By type of utility vehicle:
LMV
CVD
HCV
By type of passenger motor vehicle
4W
2W and others
Key target audience
Qatar Automotive Industries
Government agencies and regulatory authorities
Financial industry
car company
Car dealers and users
Period entered in the report:
Historical year: 2016-2021
Base year: 2021
Forecast period: 2021- 2026F
Companies covered:
National Bank of Qatar
Bank of Doha
commercial bank
al khaliji commercial bank
Ahli Bank
Qatar Islamic International Bank
Qatar Islamic Bank
Dukhan Bank
Masraf Al Rayan
HSBC
Standard certified check
Qatar International Bank
First financial company
Al Jazeera Finance
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Main topics covered in the report
Qatar Automotive Market Overview
Qatar Automotive Finance Market Ecosystem
Automotive Finance Value Chain Analysis in Qatar
Business Cycle and Timeline of Major Banks in Qatar Auto Finance Market
Market Size Analysis of Automotive Finance Market in Qatar, 2016-2021
Automotive finance market segmentation in Qatar
SWOT Analysis of Automotive Finance Industry in Qatar
Trends and Developments in the Automotive Finance Industry in Qatar
Decision-making parameter for auto loan provider selection
Issues and Challenges in the Auto Finance Industry in Qatar
Qatar Auto Finance Market Growth Drivers
Government Policies and Initiatives for the Auto Finance Industry in Qatar
Impact of COVID-19 on the Automotive Finance Market in Qatar
Competition framework for Qatar Auto Finance
Qatar Automotive Finance Market Future Outlook and Projections
Market Opportunities and Analyst Recommendations
For more information on the research report, refer to the link below:-
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/qatar-auto-finance-market-outlook-to-2026/596066-93.html
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