New vehicles registration goes high
Registration of new vehicles over the first 11 months of fiscal year 2014/15 stood at record high of 218,360 units.
Data compiled by the Department of Transport Management (DoTM) shows vehicles registration in the review period is higher than total vehicle registration in the fiscal year 2013/14.
The vehicle registration figure of 2014/15 beats previous high of 208,483 units registered in 2012/13. According to DoTM, 198,343 units of vehicles were registered in the country in 2013/14. Altogether 1,974,181 units of vehicles have been registered in the country so far.
Auto dealers have attributed rise in registration of new vehicles in 2014/15 to a number of factors increased economical activities, easy auto loans from banks and financial institutions (BFIs) and increasing purchasing capacity of people. “Auto sales recorded a rise of around 50 percent in the first half of 2014/15,” Anjan Shrestha, vice president of Nepal Automobile Dealers Association (NADA) told Republica, adding, “Sale of vehicles, however, has slowed in the two months due to the devastating earthquake.”
He, however, added that the automobile business is gradually gaining momentum as the country recovers from the earthquake.
Statistics of DoTM shows vehicles registration has increased in all segments — bus, mini-bus/mini-truck, crane/dozer, car/jeep/van, pick-up, micro, tempo, motorcycle, among others. Registration of two-wheelers increased by 34,260 units to 179,850 in the first 11 months of 2014/15. Similarly, registration of vehicles under car/jeep/van segment increased by 2,473 units to 12,014 units in the review period.
According to DoTM, 1,429 units of tempo were registered in the review period, compared to 13 units in the same period of 2013/14. Similarly, registration of cranes/dozers increased to 3,833 units till mid-June of 2014/15 compared to 2,473 units in the same period of 2013/14.
“Compared to previous years, 2014/15 has been a good year for automobile industry,” Shrestha said, adding, “Had the earthquake not jolted Nepal, our sales would have been even better.”