In the same period a year ago, registration of such vehicles was at 3,107 units. This fiscal year, the domestic automobile market has witnessed a remarkable growth in car sales right from the first month (mid-July to mid-August), when 779 new cars were registered. The second month saw registration of 884 units, while 1,156 new cars were registered in the third month. The monthly registration rose to 1,484 units in the fourth month under the car/jeep/van category.
Of the total 4,303 registrations in the first trimester, 3,328 units were registered in the Bagmati Zone, which includes the major market - the Kathmandu valley. Officials at the department and the Nepal Automobile Dealers Association (NADA) attributed the growth in sales to easy auto financing at comparatively low interest rates, the festive season and the NADA Auto Show just ahead of the festivals.
“Lack of dependable public transport service is another reason behind people buying private vehicles like cars and bikes for everyday mobility,” said Sarad Adhikari, technical director at the department. The department officials said banks and financial institutions, which charged as high as 15 percent interest last year, are providing loans at less than 10 percent now, encouraging people to buy automobiles.
If this trimester’s growth rate (38.39 percent) continues, the annual vehicle registration record set four years ago would be broken this year. In fiscal year 2009-10, a total of 12,268 units of cars were registered in the country (33 units daily on an average).
Even as the sales of passenger cars rose sharply, registration of other types four-wheelers, mainly commercial vehicles, declined in the first four months. Registrations of buses, trucks, heavy equipment, micro buses, pick-up vans and power trailers declined by 11.27 percent, according to the department.
In the first four months, 71,954 vehicles are registered under 10 categories with the department. As always, the two-wheeler segment topped with 61,492 registrations (up by 4.47 percent) compared to 58,860 units in the same period last year.
Traders, however, said bike sales this year could not pick up as expected for the government delaying implementation new driving licence trial system across the country.
Vehicle Registration (first four months)
Category 2013-14 2012-13
Motorcycle 61,492 58,860
Car/Jeep/Van 4,303 3,107
Mini Bus/Truck 285 400
Bus 757 978
Heavy equipment 729 868
Pick-up vans 1,572 1675
Micro bus 48 49
Tempo 0 48
Power trailer 2,734 2857
Other 34 67
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