Vehicle registration down

KATHMANDU, Jan 13:

Vehicle registration figures came down by 4,615 units over the first four months of 2014/15 compared to the same period of last fiscal year.

According to Department of Transport Management (DoTM), a total of 87,754 units of vehicles were registered in the country in the four-month period ending mid-November. In the same period last year, 92,369 vehicles were registered across the country.

Statistics shows registration of two-wheelers declined notably in the review period. Altogether 75,123 units of two-wheelers were registered in the country until mid-November, compared to 81,907 units in the same period of 2013/14.

Auto dealers say sale of two-wheelers is declining as consumers are gradually shifting to four-wheelers. "More people are buying cars as banks and financial institutions have announced easy financing scheme at low interest rate," Gopi Neupane, general secretary of Nepal Automobile Dealers Association (NADA) -- the umbrella organization of domestic auto dealers -- said.

Though vehicles registration has fallen, Neupane claimed that automobile sale has increased by around 10 percent in the first four months of the current fiscal year compared to the same period of previous fiscal year. “Registration figures do not reflect actual sale," Neupane said.

According to Neupane, easy financing, expansion in road network, lack of mass public transportation, and festive schemes drove up auto sales during the review period.

The statistics shows 4,460 units of vehicles under car, jeep and van segment were registered in the country until mid-November compared to 4,303 units in the same period of last fiscal year. Likewise, 1,155 units of buses and 2,163 pickups were registered in the review period compared to 757 and 1,572 units, respectively, in the same period of 2013/14.

Similarly, 93 units of vehicles under micro segment were registered in the four-month period of 2014/15, compared to 48 units in the same period of 2013/14.

Source: Republica