Kathmandu, August 26
The sales of two-wheelers, which had been skyrocketing since the past few years, have dwindled in the last fiscal year.
The statistics prepared by the Department of Transport Management (DoTM) show that the annual import of two-wheelers has dipped for the first time in five years in fiscal 2017-18. The country imported 341,623 units of two-wheelers in fiscal 2017-18 down from the 354,071 units of two-wheelers that had been imported in previous fiscal year.
The import of two-wheelers had been increasing since fiscal 2013-14 when the import of such vehicles was recorded at 163,645 units. While the country imported 196,383 units of two-wheelers in 2014-15, 267,439 units of such vehicles were imported in 2015-16. The import of two-wheelers rose to 354,071 in fiscal 2016-17 while it dipped to 341,623 units in fiscal 2017-18.
Though the import of two-wheelers dipped in the last fiscal year, two-wheelers still top the type-wise import chart of vehicles during the year.
Auto dealers have said that the unfavourable policy of the government towards automobile sector is the main reason behind the fall in import of two-wheelers in the country. “Citing various reasons, the government has been restricting the growth of automobile industry in the country,” informed Anjan Shrestha, former president of the Nepal Automobile Dealers’ Association (NADA).
As a result of ‘illogical’ government policies, banks and financial institutions are reluctant to issue auto loans which have affected the sales of two-wheelers in the market, according to Shrestha. “The government’s false logic that the automobile industry is an unproductive sector has not only affected vehicle sales but has impeded the growth of the entire automobile industry,” he added.
Moreover, automobile dealers have said that the decision of the government to raise excise duty through this fiscal year’s budget on vehicles has added further woes to automobile business. “As increase in excise duty has raised the price of vehicles, customers are reluctant to purchase vehicles,” informed an auto dealer seeking anonymity.
Comparative figures
Year………………….. Import
2013-14………………….163,645
2014-15………………….196,383
2015-16………………….267,439
2016-17………………….354,071
2017-18………………….341,623
Source: DoTM
Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/import-of-two-wheelers-dips-for-first-time-in-five-years/ under the title “Import of two-wheelers dips for first time in five years”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
