Vehicles registration drops

KATHMANDU, Aug 5: Registration of new vehicles across the country dropped by 19 percent in fiscal year 2011/12, thanks to tightening of auto loans by banks and financial institutions.



Automobile dealers also attributed the drop in registration to rise in excise duty and high interest rate, which hovers between 12-17.5 percent, on auto loans.

Data compiled by the Department of Transport Management (DoTM) shows a total of 163,640 vehicles were registered across the country during 2011/12, down from 217,087 registered during 2010/11.[break]



Saurav Jyoti, president of Nepal Automobile Dealers´ Association (NADA), said new registration of vehicles dropped due to rise in excise duty and high bank rates. “Price of four-wheeler has increased in the range of Rs 30,000 to Rs 400,000 over the year,” Jyoti said.



Registration of two-wheelers during the review period dropped by 2.5 percent to 168,907, according to the department.

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