LATEST NEWS

Vehicle registration exceeds 2.5 million

Department of Transport Management Nepal New Vehicle Registration Stat

Motorcycle Registration

Automobile registration in the country recently exceeded 2.5 million, thanks to the growing automobile business in the country.

According to the data of Department of Transport Management (DoTM), 211,969 units of new vehicles were registered in the country in the first half of ongoing fiscal year. With these new registrations, the number of vehicles registered in the country has reached 2,551,138 units, the government statistics show.

DoTM data show that over one million new vehicles were registered in the country within the last four-and-a-half years alone. Ten years ago, in fiscal 2006-07, there were only 626,174 vehicles registered in Nepal. By fiscal year 2012-13, the number had surged to 1.5 million. This shows that the trend of purchasing vehicles in the country has increased
significantly.

The government data show that there has been impressive growth in registration under all segments of vehicles like bus, micro bus, car/jeep/van, motorcycle, among others, in recent years. Motorcycle registration has overtaken the registration of other vehicles, with nearly two million (1,998,283) motorcycles registered in the country till the first six months of ongoing fiscal year. In the first half of the ongoing fiscal year alone, 208,454 new motorcycles were registered at different government offices.

Saurabh Jyoti, former president of Nepal Automobile Dealers’ Association (NADA), said that motorcycle import is increasing every year as it has become one of the basic necessities for Nepalis today.

“As Nepal does not have means of mass transportation and the existing public transportation system is unreliable, motorcycles have become the best means of mobility in the country,” Jyoti said, adding that unmanaged urbanisation and narrow roads in the city have also boosted the demand for motorcycles.

Easy financing and low interest rates on auto loan are the other two factors that automobile dealers attribute to the increasing automobile registration in the country. As per auto dealers, almost 60 per cent of vehicles plying on the roads are on hire-purchase scheme.

“Enhanced transportation sector is vital for the country’s economic growth and the increasing number of vehicles in the country hints that Nepal is marching towards the path of development. However, the recent decision of Nepal Rastra Bank to put a cap on the loan-to-value ratio of auto loans could put a brake on the growth of automobile sector and will leave a negative impact on the overall development of the country,” Anjan Shrestha, president of NADA, said.

Traders say that automobile business has gone down by almost 50 per cent after the central bank imposed the cap of 50 per cent on auto loans for financial institutions in the third week of February.


A version of this article appears in print on March 23, 2017 of The Himalayan Times.

Latest NEWS You might be interested in

NEWS Tag Cloud

Bhaktapur Gusto Andrea Innanone RC213V Vitpilen 401 Johhy Rea Thunderbird 500 Malaysia GP 250 CatalunyaGP Himalayan New Year Campaign CRF250 Rally Pulsar SS400 HONDA AFRICA TWIN BMW G 310 R Hornet Saluto Stat Kawasaki Rumours Carl Crutchlow Hansaraj Hulas Chand Swish Palpa UNICEF Nepal Australian GP Passion HF Dawn CS400 Valentino Rossi D-Lifestyles Passion Pro Render Image SR150 Pedrosa Monkey bike CBR150R NEW HONDA SCOOTER LAUNCH R6 Petrol Crisis Jerez Fuel Economy 650 NK Interest Rates Anna business group STX 150 Splendor Pro Classic Zest TVS Akula 310 launch Petrol Moto2 Bajaj Ganesh International Isle of Man TT TVS Akula 310 design Brutale Italia limited edition Crossover Future CB160R Suzuki Rumour Argentine Grand Prix Update Splendor iSmart Fazer Classic 500 Qatar TVS Motor Company SG Global Path 22 Fascino Adventure Bike volkswagen CB Trigger R400 Valencia Motogp TRK502 VG Automobiles HMSI INDIA LAUNCH TVS Akula 310 concept NCell CFMoto TNT135 Pulsar Department of Transport Management Pulsar AS200 Centuro Mojo Riding Styles Monza Madrid Auto Show Just Bikes Husqvarna Digital License Green Fly RC390 125cc Vinales Xtreme Sports FZ25 Australia Tornado 302R Earthquake Relief Pulsar 200SS 400 NK Gearventure Bike Nepal MINORU KATO Racemandu Xtreet Access Jorge Lorenzo Acquistion Dominar 400 Honda Nepal honda two wheelers IME Automotives v3 Harris Performance Japan British GP Folgar VG Suzuki Motorcycle Motorcycles TNT300 Movistar Yamaha MotoGP World Superbikes New Year Jupiter Two-wheelers Offer GS Le Mans GP Victor Andrea Dovizioso Argetine GP Concept Bike Bullet 500 MIchele Pirro Activa-i Barcelona GP Exchange Offer New Specifications Discontinued Navi Hunter Price Diesel Crisis RC 200 MV Agusta Yamaha Scooters CB Twister Tax Gixxer Schemes Motorcycle Inazuma NADA 2017 24x7 service 390 Adventure Syakar Trading MOTUL GRAND PRIX OF JAPAN R650 India News Mahindra CRF250L Nepal Petroleum Dealers Association BN600 Royal Enfield Pulsar RS200 CX-01 concept commuter motorcycle Benelli 150 NK Rossi Nepal QatarGP NOC CB Unicorn HONDA INDIA 150 SCOOTER Discountinued Showroom Puslar 160 HMSI Cliq The Wheels TNT 600i Pulsar AS150 EICMA Sym Scooters Sales Report KTM YZF R3 R15 Karizma Assen Hunk Repsol Honda Team Movistar COTA Activa NEWS Morang Autoworks Saurav Jyoti Upcoming Bikes Gixxer SF Scooter Circuit of the Americas in Texas GRAN PREMIO D'ITALIA TIM New Driving License system Procedures JnJ Spy Shot Cal Crutchlow Motorcycle Registration Dani Pedrosa Duke 250 Africa Twin Lets Hansaraj Hulaschand Opinions NADA Auto Show TVS Motors Motegi AS200 Activa 125 Euro IV FZ-S Jagdamba Motors FZ 2017 XRE 300 Luis Salom Vespa Thunderbird Avenger Continental GT AS150 Talkies Dovizioso Brutale 1090R BMW Marc Marquez Accident CBR 650F Limited Edition honda dio RC 390 Discover 100T TVS Akula 310 Ducati ST Papio World Champion MotoGP Suzuki Gixxer SF Akula New Vehicle Registration Ray Harley-Davidson Rally Danilo Petrucci honda scooters Repsol Honda New Launch CBR500R Nepal Traffic Police Agni Moto Inc CB400X Audi FrenchGP KTM International Trading New Launches CTX700 NS200 BJ600 Installment Procedures India Aprilia Sport CRF250Rally Concept Motorcycle Hero Duet Pulsar CS400 Marquez Adventure 390 UM Global Hetauda Q2 Hayate TNT 135 Lorenzo CRF Golcha Sales BS IV Star City Plus Budget 2074 Duke 390 Czech Grand Prix 2016 xDrive Hybrid Dio XR125 Dominar Iannone Triump Honda Livo 110 Aragon MotoGP Pantero Apache RTR 200 Spain TVS BN 302 Turbo Nepal Pulsar RS 200 Stolen Bikes New Motorcycles Offers Renegade BS III Duke 200 Jerez GP Shankar Group RED BULL GRAND PRIX OF THE AMERICAS CB400F New Colors Missano Scheme Pleasure Sepang ETX 150 Germany LCR Honda Multistrada Nepal Police Ninja 300 Mugello MotoGP Maverick Vinales Scrambler RAC CBR400R GRAN PREMIO MOTUL DE LA COMUNITAT VALENCIANA R 1200 150SS Racer NGM Dovizios