So far in the current fiscal year, registration and sales of four-wheelers have remained below the level seen last year even though the taxes levied on these vehicles were not increased in this year´s budget. In the first two months of the current fiscal year, vehicle registrations stood at 10,537 units in July-August and 10,738 in August-September while registrations in June-July, the last month of fiscal year 2010/11, were 17,577 units according to the data received from Department of Transport Management (DoTM). [break]
Currently, sales are better because of festive season but it is still lower in comparison to the sales last year.
“The festive season coupled with promotional offers that come with it has seen our sales going up by about 60 percent compared to sales in non-festival period. However, the sales are still lower than last year,” said Assistant Manager for Sales Anuja Shrestha at Arun Intercontinental, authorized distributor of Maruti Suzuki vehicles for the market of Nepal.
Sales of hatchbacks and smaller cars are a lot better than the sales of high-end vehicles at the moment. In comparison to the sales last year, dealers selling smaller cars said they are facing a slump of about 30 percent whereas dealers of high-end vehicles claimed the current slump in sales is in the range of 50 percent.
“Sales of comparatively expensive vehicles than the ones that are highly sold in the market are very bad at the moment. Especially, Japanese vehicles are affected more than others because of the increasing exchange rate of Japanese Yen with Nepali rupees,” said Sambhu Subedi, Senior Manager for Nissan at Dugar Brothers and Sons, authorized distributor of Nissan vehicles for the market of Nepal.
Related story
Forex update: US dollar selling at Rs 148.99
_20191222200001.jpg)
