KATHMANDU: The automobile market is gradually recovering after the Gen-Z protests on September 8 and 9 caused widespread disruption.
During the protests, personal properties were vandalized or set on fire, creating uncertainty in the market for several days. Many automobile showrooms in Thapathali, Kathmandu, were destroyed, while some outside the valley were also attacked.
Thousands of cars, jeeps, and vans were burned or destroyed. Preliminary estimates suggest that between 7,000 and 10,000 vehicles were damaged during those two days.
Despite these incidents, the automobile market now appears to be slowly stabilizing.
Increased activity in the motorcycle and low-budget car segments has offered some relief to dealers.
The protests occurred just before the festive season, a peak period for private vehicle sales in Nepal, creating uncertainty for businesses. However, increased activity in the motorcycle and low-budget car segments has offered some relief to dealers.
“We had announced a halt to all activities after the protests. However, but even after the protests, a significant number of customers have come to buy motorcycles. So there is no need for major worry,” Deepak Agrawal, CEO of Yamaha Nepal, said.
Dealers of vehicles priced under Rs 6 million say showrooms have started drawing visitors. While deliveries of new cars are a bit slow, customers seem to be reconsidering their purchases for expensive vehicles.
Motorcycle sales remain steady
Dealers say that motorcycle sales have continued as usual even after the protests.
Since most people want to buy vehicles during special occasions like Dashain, two-wheelers sale have not been affected much.
Like in previous years, around 5,000 motorcycles were reportedly sold on the day of Ghatasthapana (September 22) alone.
Bajaj, Yamaha, Honda, Hero and TVS are popular two-wheeler brands in Nepal.
Like in previous years, around 5,000 motorcycles were reportedly sold on the day of Ghatasthapana (September 22) alone.
Luxury car sales stall
The post-protest situation has discouraged potential buyers of high-end vehicles, who seem concerned about being targeted by protestors.
Customers who have booked expensive cars are hesitant to take delivery, opting instead to “wait and watch”.
Dealers expect that sales of luxury vehicles will pick up only after the situation stabilizes.
