According to the Bagmati Zone Transport Management Office, 64,010 vehicles (four wheelers and two wheelers) were registered in Bagmati during fiscal 2010-11, down from 82,204 in 2009-10. Bagmati accounts for 60 percent of auto registrations and sales in the country.
The number of motorcycles registered in 2010-11 stood at 53,690, down from 69,369 in the previous fiscal.
Likewise, registrations of four-wheelers dipped 21.75 percent to 10,050 from 12,845 in fiscal 2009-10. Of the total four wheelers registered, 7,013 units were car, jeep and vans. Madan Singh Mahat, undersecretary and chief of the two-wheeler unit at Bagmati Zonal Transport Management Office, said registrations declined as a result of reduced import and slowdown in sales. “We were able to collect only Rs 540 million in vehicle tax against the target of Rs 660 million,” he added.
The government through the last year’s budget had increased excise duty on four wheelers by 10 percent to 60 percent and in two wheelers by 10 percent to 40 percent. In the wake of liquidity crisis, BFIs had also increased interest rates on auto loans from around 8 percent in 2009-10 to more than 16 percent in 2010-11. According to Saurav Jyoti, president of Nepal Automobile Dealers’ Association (NADA) the current market slump is the biggest in 15 years. “Sales of automobiles has dropped in such a way that it seems it will be very difficult for us to sustain if the situation remains same,” said Jyoti, adding that the market is not likely to bounce back even this year.
Jyoti added that around 400 to 500 four wheelers are awaiting clearance in customs offices. “The overall market dropped by around 40 percent in last fiscal year. We had requested the government to provide some relief in the new budget, but to no avail,” he said.
Earlier, NADA had demanded that the government limit the excise duty to 45 percent in four wheelers and 25 percent in bikes. However, there was no change in the excise duty structure in the new budget. Shekhar Golchha, executive director of HH Bajaj and vice-president of NADA, said two-wheeler sales dropped by 30-40 percent in the last fiscal year. “The government must not formulate policies only keeping mind traffic congestions on Valley roads,” he added.
FY 2010/11
Month Motorcycle Four Wheelers
Mid-July to mid-Aug 5420 948
Mid- Aug to mid-Sept 7112 954
Mid-Sept to mid-Oct 5044 1062
Mid- Oct to mid-Nov 4507 1247
Mid-Nov to mid-Dec 5842 971
Mid-Dec to mid-Jan 4619 499
Mid-Jan to mid-Feb 3839 757
Mid-Feb to mid-March 5788 801
Mid-March to mid-April 2851 682
Mid-April to mid-May 1977 606
Mid-May to mid-Jun 2036 640
Mid-Jun to mid-July 4925 883
Total 53,690 10,050
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