Registrations declined over the month

Vehicle Registrations November 2016

  Nov 16
Oct 16
Sep 16
Aug 16

New Registrations
326 346 281 254

The total number of vehicle registrations decreased in November 2016 by 20 vehicles (5.8%). This was due to a decline in almost all vehicle categories. Light vehicles contributed largely to monthly fall by 38 registrations (25.9%), followed a strong month in October 2016. Heavy vehicles and cars also decreased by 8 and 3 registrations, respectively. This coincides with a $0.2 million (11.6%) fall in payments for imports of vehicles. Taxis and rentals however rose by 27 vehicle registrations as liaisons with Ministry of Infrastructure have indicated the expectation of increased visitors and tourists for the Christmas holidays.

Annually, the number of registered vehicles increased by 819 (32.1%). Majority of the annual increase in registered vehicles was for cars which rose by 366 (35.4%) followed by 275 (27.2%) increase in other light vehicles. The rise in vehicle registrations was in line with the increase in vehicle import payments by $7.3 million (73.5%) to $17.3 million. Additionally, the banks’ loans to private individual’s for the purchase of a vehicle, increased by $0.3 million (79.3%) over the year. Moreover, the boost in purchasing power of the returning Recognized Seasonal Employees (RSE) may have also contributed to the annual rise.

Vehicle registrations are projected to increase firmly in the near term, despite the expected increase in fuel prices. Anticipated growth for the tourism sector is expected to have positive spillover effects on the transportation sector, and therefore vehicle registrations, specifically for public transport, car rental providers, and taxis.

Download the full report: Vehicle Registrations - November 2016

You are here: Home 2017 Releases News Economic Release Registrations declined over the month