KATHMANDU: With two auto expos around the bend, the electric vehicle (EV) market in Nepal is heating up. Since most EV brands offer similar features, companies are turning to pricing and promotional strategies to be competitive in the market.
These two expos – NAIMA Nepal Mobility Expo and NATA Auto Show – are expected to serve as key platforms for automobile dealers to launch new models and unveil their special promotional offers for the Dashain-Tihar festive season.
Popular Chinese brands such as BYD, MG, Changan, Chery, Leapmotor and Dongfeng are introducing new models one after the other in the Nepali market. Since prices and overall features of models unveiled by these brands are more or less similar, competition is certain to intensify.
Nepal also imports EV from Indian manufacturers like Tata and Mahindra. However, Indian manufacturers do not compete in price. This gives Chinese EV brands an advantage, according to industry people.
Most companies participating in the upcoming Nepal Mobility Expo, which kicks off in Kathmandu on August 6, are busy finalizing their offers.
An EV dealer told MeroAuto they are doing internal preparations to finalize their promotional scheme. “Only a few days are remaining now. We must unveil the scheme on August 5,” the dealer added.
Most companies participating in the upcoming Nepal Mobility Expo, which kicks off in Kathmandu on August 6, are busy finalizing their offers.
What Offers to Expect?
Many companies have imported vehicles at lower costs this year. Rather than reducing the published retail prices, they are preparing attractive schemes that include cash discounts, free annual tax and insurance, accessories and exchange bonuses to attract buyers.
“Consumers are already expecting big offers during Dashain,” Gyanendra Bahadur Chand, General Manager of SPG Automobiles, told MeroAuto. “Since buyers view these offers as opportunities, companies are under pressure to present the best possible deals. Everyone is trying to come up with attractive packages.”
Deepak Thapaliya, General Manager of Laxmi Intercontinental, also said festive schemes will be introduced earlier this year. “Compared to previous years, schemes will arrive earlier,” he said. “We, too, are planning our offers.”
Will There Be a Price War?
Last year’s auto show saw a price war between MG and Seres, as they rushed to clear stock brought before the budget announcement by offering heavy discounts.
New entrants also launched competitive schemes to attract buyers.
This year also many companies are under pressure to sell vehicles imported before the budget. Whether they will resort to price undercutting remains to be seen.
