Bike registration up by 2.98 percent in Bagmati zone
Continuing previous years’ trend, registration of two-wheelers has increased in the Bagmati Zone with the fiscal year coming to an end. Registration of two wheelers, which was witnessing decline in the ninth and tenth months of the current fiscal year, increased marginally by 2.98 percent in the 11th month (mid-May to mid-June).
According to the Bagmati Zone Transport Management Office, a total of 2,036 units of motorcycles were registered during mid-May to mid-June. Madan Singh Mahat, chief of the two-wheeler unit at the office, said the registration increased marginally last month. “Every year during this period, registration of two wheelers increases amid speculations of rise in vehicle prices after the budget presentation,” added Mahat.
The two-wheeler market has been experiencing a slowdown for the last eight months with banks and financial institutions tightening auto loans and the present budget hiking the excise duty.
Although the registration has increased, traders say overall sales of two wheelers have fallen by 30 percent. “The registration might have gone up because of some traders maintaining stock. But this hasn’t reflected in our sales,” said Shekhar Golchha, vice-president of Nepal Automobile Dealers’ Association (NADA). Golchha, whose Hansraj Hulaschand & Company deals with Bajaj motorcycles, said they had requested the government to come up with a new tax provision in the upcoming budget to make two wheelers cheaper.
The government in the current budget had increased the excise duty on two wheelers by 10 percent. Few weeks ago, NADA had demanded that the government reduce the excise duty to 25 percent from the existing 40 percent on bike imports. According to the Bagmati Zone Transport Management Office, it has registered 26,952 units of motorcycles after the budget—mid-Nov. to mid-June—this year. It is a decline of 33.15 percent compared to 40,323 units during the same period last year. The office has registered 49,035 motorcycles as of the 11th month of the current fiscal year. In the same period last year, 63,740 bikes were registered.
BIKE REGISTRATION IN BAGMATI ZONE IN 2010-11
|Mid-July to mid-Aug
|Mid-Aug to mid-Sept
|Mid-Sept to mid-Oct
|Mid-Oct to mid-Nov
|Mid-Nov to mid-Dec
|Mid-Dec to mid-Jan
|Mid-Jan to mid-Feb
|Mid-Feb to mid-March
|Mid-March to mid-April
|Mid-April to mid-May
|Mid-May to mid-Jun