The number of automobiles registration in Nepal has reached 3.22 million. Only in the last fiscal year, 437,614 units of vehicles were registered. These numbers have been accumulating since 1990.
According to the vehicle registration statistics published by the Department of Transport Management (DoTM), more than half of the total registered vehicles so far were imported in the last five years. The vehicles registration number stood at 1.55 million in the fiscal of 2012-13.
Among the vehicles, motorbikes contribute to 2.5 million units. Likewise, there are 49,318 buses, 25,595 minibuses/mini trucks, 90,411 cranes/dozers, 237,658 cars/jeeps/vans, 55,973 pick-up vans, 7,658 microbuses, 45,672 tempos, 143,962 tractors/power trailers, 26,466 e-rickshaws and 7,607 other vehicles. The contributing factors for the increase in the numbers are easy financing, low-interest rates on auto loans, and the hassle of public transportation.
On the other hand, due to the recent increase in taxes on automobiles by the Government since the fiscal year 2018-19, the auto dealers have claimed a decrease in sales. Shambhu Dahal, president of Nepal Automobiles Dealer’s Association (NADA), said that since the price of high-end automobiles has skyrocketed owing to increased tax rates, the demand for luxurious vehicles has come down notably.