The domestic car market witnessed a significant growth in sales in the first six months of this fiscal year. Automobile dealers say there has been a “steep rise” in demand for cars , fuelled mainly by road expansion throughout the country and availability of easy auto loans.
Almost all automobile dealers reported “encouraging” sales during the review period. The rise in the sales is evident with the fact that car registration jumped 30 percent in Bagmati Zone in the six months compared to the same period of last fiscal year. According to Department of Transport Management, 4,321 cars were registered in the zone compared to last year’s
3,314 units. Nepal Automobiles Dealers’ Association (NADA) General Secretary Gopi Neupane attributed the rise in passenger car sales to road expansion and easy availability of auto loans. “Since last year, the government has been continuously working on road expansion of the Kathmandu valley and major cities which motivated people to buy cars ,” he said, adding liquidity-flush banks, meanwhile, are also eying the automobile sector for investment.
Banks and financial institutions are reported to have been providing auto loans at 8-9 percent interest, which is cheaper compared to what it used to be until last year. The lack of convenient public transportation service has also encouraged people to buy vehicles.
In terms of the car variant, India-made sedan and hatchbacks, which are comparatively cheaper that those imported from countries other than India, top the sales list. Rupesh Sharma Bhatta, assistant general manager - sales and marketing at Laxmi Intercontinental, authorised distributor of Hyundai cars said different schemes and offers launched during Dashain and Tihar contributed to sales rise. Reports of car price hike in India also motivated Nepalis to purchase cars , he said.
Hyundai i10, Santro and Eon were the best-selling cars from the Hyundai stables, according to Bhatta. “The Grand i10 which was launched in mid-December got a very good response from customers,” he said.
Kishor Maharjan, senior executive at GO Automobiles, authorised distributor of Ford, said they witnessed around 20 percent growth in sales in the first half. He said Ford Ecosport was the best-selling car from the Ford, followed by Classic and Fiesta. Honda also saw good growth in sales. “Our (Honda cars ) sales rose by more than 50 percent compared to the same period last year,” said Lomus Manandhar, division manager - cars at Syakar Trading, authorised distributor of Honda cars . “In the six months, we sold more than 225 units of car against of 120 during the same period last year.”
Honda had launched Honda Amaze that received an overwhelming response from customers. Manandhar is hopeful the market in next half will also rise with the new launches of upgraded cars .“We are soon launching upgraded versions of Honda City and Jazz,” he said.
source: the kathmandu post,20 feb 2014
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Almost all automobile dealers reported “encouraging” sales during the review period. The rise in the sales is evident with the fact that car registration jumped 30 percent in Bagmati Zone in the six months compared to the same period of last fiscal year. According to Department of Transport Management, 4,321 cars were registered in the zone compared to last year’s
3,314 units. Nepal Automobiles Dealers’ Association (NADA) General Secretary Gopi Neupane attributed the rise in passenger car sales to road expansion and easy availability of auto loans. “Since last year, the government has been continuously working on road expansion of the Kathmandu valley and major cities which motivated people to buy cars ,” he said, adding liquidity-flush banks, meanwhile, are also eying the automobile sector for investment.
Banks and financial institutions are reported to have been providing auto loans at 8-9 percent interest, which is cheaper compared to what it used to be until last year. The lack of convenient public transportation service has also encouraged people to buy vehicles.
In terms of the car variant, India-made sedan and hatchbacks, which are comparatively cheaper that those imported from countries other than India, top the sales list. Rupesh Sharma Bhatta, assistant general manager - sales and marketing at Laxmi Intercontinental, authorised distributor of Hyundai cars said different schemes and offers launched during Dashain and Tihar contributed to sales rise. Reports of car price hike in India also motivated Nepalis to purchase cars , he said.
Hyundai i10, Santro and Eon were the best-selling cars from the Hyundai stables, according to Bhatta. “The Grand i10 which was launched in mid-December got a very good response from customers,” he said.
Kishor Maharjan, senior executive at GO Automobiles, authorised distributor of Ford, said they witnessed around 20 percent growth in sales in the first half. He said Ford Ecosport was the best-selling car from the Ford, followed by Classic and Fiesta. Honda also saw good growth in sales. “Our (Honda cars ) sales rose by more than 50 percent compared to the same period last year,” said Lomus Manandhar, division manager - cars at Syakar Trading, authorised distributor of Honda cars . “In the six months, we sold more than 225 units of car against of 120 during the same period last year.”
Honda had launched Honda Amaze that received an overwhelming response from customers. Manandhar is hopeful the market in next half will also rise with the new launches of upgraded cars .“We are soon launching upgraded versions of Honda City and Jazz,” he said.
source: the kathmandu post,20 feb 2014
LINK
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