KATHMANDU, March 6: The number of new vehicles registered across the country rose by 21 percent in the first seven months of the current fiscal year.
The Department of Transport Management (DoTM) attributed the rise to easy financing facilities, decline in interest rates on auto loans and hike in demand for two-wheelers outside Bagmati Zone.
According to the DoTM, a total of 127,017 units of vehicles were registered in the seven-month period to February 11, as against 104,971 units registered in the same period last year.
With the addition of these new vehicles, the total number of vehicles registered in the country has reached 1.47 million units.
Of the total new vehicles registered this fiscal year, 85.11 percent were two-wheelers and 4.44 percent were light vehicles such as cars, SUVs and vans, DoTM statistics show.
Data show a total of 108,113 units of two-wheelers were registered in the first seven months of 2012/13, up from 91,152 units registered in the same period last year, marking an increment of 18.61 percent.
Likewise, registration of light vehicles rose by 9.73 percent in the seven-month period to 5,647 units.
Of all the zones in the country, registration of new vehicles increased drastically in Lumbini.
The zone saw registration of a total of 19,837 units of vehicles, including 17,722 two-wheelers, in the seven-month period this fiscal year, up from 9,309 units of vehicles, including 8,443 two-wheelers, registered in the same period last fiscal year.
On the contrary, registration of new vehicles in Janakpur fell to 577 units in the first seven months of this fiscal year, as against 3,925 units recorded in the same period last fiscal year.
Among 14 zones, Bagmati saw registration of highest number of new vehicles with the number standing at 41,057 units. Narayani and Lumbini zones came second and third in terms of new vehicle registration, recording enrolment of 27,393 units and 19,837 units of vehicles, respectively.
"The main reasons for the continuous rise in registration of new vehicles, mainly two-wheelers, are easy access to bank loans and decline in interest rates on auto loans," said DoTM Director Devi Ram Bhandari.
Automobile dealers said sales of two-wheelers are going up lately as they are turning into essential mode of transportation not only for people of Kathmandu but those residing outside of the capital as well.
According to latest DoTM report, registration of new two-wheelers has gone up in all the zones except in Mechi, Janakpur, Rapti and Seti.
However, in the case of four-wheelers, automobile dealers said, only registration is going up, and not sales.
“Registration of four-wheelers has gone up in the recent days as vehicles of new emission standard--Euro III--that were ordered as early as September last year have just started entering the country. But sales are not that robust,” said Saurav Jyoti, president of the Nepal Automobile Dealers´ Association.