Kathmandu, September 1

The six-day automobile extravaganza, NADA Auto Show, that started from August 29, has attracted far more visitors than in the previous years but sales have been comparatively similar as in the previous years, according to NADA officials.

The event, jointly organised by Nepal Automobile Dealers Association (NADA) and Global Exposition Management Service, has witnessed a record number of visitors so far. More than 40,000 people have attended the expo within four days, with an additional 35,000 predicted over the coming weekend. Yet, despite the high visitor numbers, NADA is far from satisfied with the ongoing sales.

Nepal Rastra Bank (NRB)’s directive, which states that customers must pay a minimum of 35 per cent down payment when buying vehicles on instalment, has deterred potential buyers from making purchases.

Krishna Prasad Dulal, general secretary of NADA, expressed the organisation’s disappointment regarding sales. He claimed that in the previous year, the 35 per cent down payment provision was not mandatory, and buyers could buy vehicles with down payment of as low as 10 per cent. “Had the compulsory regulation not been implemented, we would have doubled our total sales this year.”

Dulal further added, “Since Nepali customers are already paying 250 per cent tax on automobiles, which is levied at the customs during import, the imposition of a compulsory 35 per cent down payment is not justifiable. Rather, the government should focus on constructing and maintaining roads with that 250 per cent tax.”

However, the increase in down payment amount has not deterred people from turning up and paying the Rs 200 entry fee.

While most of those making bookings and purchases were middle-aged people, the vast majority in attendance were youths lured in by the flashy vehicles and the 40 big brands being displayed at the auto show.  While most of them weren’t in a position to purchase, they were satisfied to pose for pictures in front of the luxury vehicles.

Suraj Neupane, 21, from Tikathali, and Ayush Pokharel, 20, from Lazimpat, came to the show simply to see what a Ford Mustang actually looked like in the real world. On a similar vein, Apoorv Khatri, 18, from Swayambhu, said, “All I like about automobiles is the sound, particularly from the super engines. I fancy the speed of vehicles but I won’t be able to buy them!”

Anjan Shrestha, president of NADA, said, “The number of visitors has skyrocketed this time in comparison to last year, and we are excited that the younger generation is showing interest in automobiles.”