Vehicle Registrations dropped slightly over May
- Details
- Category: Economic Releases
- Created: 31 July 2015
| Vehicle Registrations May 2015 |
||||
| May 15 | Apr 15 | Mar 15 | Feb 15 | |
| New Registrations | 196 | 198 | 189 | 127 |
Registrations dropped slightly over May
Total vehicle registrations were relatively stable over May with only 2 vehicles less than last month. “Light vehicles” declined the most but was offset by an increase in ‘Cars’ and ‘Heavy Vehicles’. Banking data shows that monthly vehicle payments were also relatively stable over April supporting the stability. However, it increased in May indicating potential increase next month. “Taxis & Rentals” remained constant during the month.
In annual terms, total vehicle registrations increased by 26.7% due to increases in all vehicle types except “Motorcycles” which decreased. Notably, “Taxis & Rentals” rose by more than double over the year indicating expansions in the public transport sector. Liaisons with the tourism sector confirmed that programs were in place to improve tours and transport for the expected rise in international arrivals this calendar year. Additionally, vehicle payments made through the banking system rose by 32%, reflecting the annual increase in total vehicle registrations.
Looking forward, the NRBT expects growth in vehicle registrations supported by a rise in the number of car dealers and influx of donor-funded vehicles that have been brought for the coronation. Additionally, an increase in new commitment loans for the vehicle sector further supports the projected rise in registrations for the near-term. Anticipated strong growth for the tourism sector is also expected to have spillover effects on public transport, car rental providers and vehicle registrations. The NRBT will continue to closely monitor the country’s economic and financial conditions in order to maintain an adequate level of foreign reserves.
| Total Number of vehicle Registrations | ||||||||
| Month ended |
Year ended | Memo Share * |
||||||
| May 15 |
Apr 15 |
Mar 15 |
May 14 |
May 15 |
May 14 |
% Growth | ||
| Total vehicles |
196 | 198 | 189 | 168 | 2,175 | 1,717 | 26.7 | 100.0 |
| Cars | 81 | 72 | 87 | 65 | 871 | 657 | 32.6 | 40 |
| Light vehicles + |
66 | 83 | 73 | 80 | 853 | 775 | 10.1 | 39 |
| Heavy cehicles ++ |
25 | 17 | 16 | 12 | 214 | 151 | 41.7 | 10 |
| Taxi and rentals |
22 | 22 | 7 | 5 | 179 | 86 | 108.1 | 8 |
| Motorcycles | 0 | 3 | 3 | 1 | 16 | 18 | -11.1 | 1 |
| Government vehicles |
2 | 0 | 0 | 2 | 22 | 19 | 15.8 | 1 |
| Buses | 0 | 1 | 3 | 3 | 20 | 11 | 81.5 | 1 |
| * Based on year-ended vehicle registration numbers + Vehicles lighter than 1500kgs excluding Cars ++ Vehicles heavier than 1500kgs excluding Buses Source: Ministry of Infrastructure |
||||||||
 |
 |
Download the Vehicle Registrations for May for more information.
