KATHMANDU: The country’s automobile sector has suffered losses worth billions of rupees as the Gen Z protests escalated into widespread arson and vandalism on Tuesday.
Protesters torched and damaged both public and private vehicles throughout Tuesday. Government offices, police posts, traffic police vehicles and motorcycles were among the primary targets.
Private vehicles parked in residential buildings and several car showrooms in the Thapathali area were also set ablaze. Showrooms of Mahindra, Tata Motors, CG Motors, Suzuki and Hyundai were completely gutted. Most of the vehicles on display were destroyed in the fire.
In addition, dozens of vehicles belonging to political leaders were vandalized or burned. Likewise, parked public transport vehicles in several areas were also attacked. Protesters also set fire to government offices, including the Department of Transport Management, and other public institutions across the country.
Although the exact number of vehicles destroyed has yet to be confirmed, initial estimates suggest the figure is in the hundreds. The total financial damage is expected to run into billions of rupees.
The incident has also placed a heavy financial burden on non-life insurance companies. While not all vehicles may have been insured, claims for insured vehicles damaged in the arson and vandalism are expected to surge sharply.
