Auto Registration Up

Auto Registration Up

Feb. 21, 2013, 5:45 p.m. Published in Magazine Issue: Vol: 06 No. -17 Feb 22- 2013 (Falgun 11, 2069)

The registration of vehicles increased by some 23.63 percent in the first half (mid-July to mid-Jan) of the current fiscal year compared to the same period a year ago. The growth has been attributed to an increased demand, supported by easy financing facilities and growth in sales of two-wheelers outside the Bagmati Zone.

The Department of Transport Management reported that the registration of vehicles reached 112,684 units in the review period. In the same period last year, 91,142 units were registered in 13 zonal transport management offices.

Department officials attributed the growth to easy financing services from bank and financial institutions and falling interest rates. “Registration of new vehicles and revenue collection both have increased this year,” said Chandra Prasad Phuyal, director at the department.

Domestic automobile dealers, however, say sales have not been as anticipated compared to the registration numbers. Auto registration increased due to the import of vehicles that were ordered last year, they said.

Due to new emission standards, vehicles import had slowed down until September last year.  “We have experienced a nominal growth in sales,” said Saurav Jyoti, president of Nepal Automobile Dealers Association. He said the number of registered vehicles looked huge, as implementation of new emission standards—Euro III—from this year delayed delivery of imported vehicles.

More on Economy

The Latest

Latest Magazine

VOL 12 No.07, November 22, 2018 (Kartik. 16, 2075) Online Register Number: DOI 584/074-75

VOL 12 No.06, October 12, 2018 (Ashoj. 26, 2075) Online Register Number: DOI 584/074-75

VOL 12 No.05, September 21, 2018 (Ashoj. 05, 2075) Online Register Number: DOI 584/074-75

VOL 12 No.04, September 07, 2018 (Bhadra 22, 2075) Online Register Number: DOI 584/074-75