Coronation celebrations drive a rise in registrations
- Details
- Category: Economic Releases
- Created: 05 August 2015
| Vehicle Registrations June 2015 |
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| June 15 | May 15 | Apr 15 | Mar 15 | |
| New Registrations | 262 | 196 | 198 | 189 |
Coronation celebrations drive a rise in registrations
Total number of vehicle registrations increased by 33.7% to 262 registrations over the month of June. This was due to a rise in all vehicle types except “Heavy vehicles” which recorded fewer registrations. Notably, “Government vehicles” increased by five times the previous month’s registrations as a result of donor-funded vehicles from the Chinese Government. This coupled with a 22.7% rise in “Taxis & rentals” indicate preparation and expected high demand for the coronation. Despite banking data showing vehicle payments were relatively stable over June (refer to Figure 1), vehicle loans increased by more than triple over the month further supporting the monthly rise in registrations. In addition, the year-ended registrations rose by 28.9% (refer to Table 1 and Figure 2). This was caused by an increase in all vehicle types except “Motorcycles” which decreased.
Looking forward, the NRBT expects growth in vehicle registrations supported by a rise in the number of car dealers. 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 * |
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| Jub 15 | May 15 |
Apr 15 |
Jun 14 |
Jun 15 |
Jun 14 |
% Growth | ||
| Total vehicles |
262 | 196 | 198 | 169 | 2,268 | 1,759 | 28.9 | 100.0 |
| Cars | 109 | 81 | 72 | 65 | 915 | 670 | 36.6 | 40 |
| Light vehicles + |
93 | 66 | 83 | 60 | 886 | 780 | 13.6 | 39 |
| Heavy cehicles ++ |
19 | 25 | 17 | 13 | 220 | 151 | 45.7 | 10 |
| Taxi and rentals |
27 | 22 | 22 | 18 | 188 | 103 | 82.5 | 8 |
| Motorcycles | 1 | 0 | 3 | 4 | 13 | 19 | -31.6 | 1 |
| Government vehicles |
10 | 2 | 0 | 7 | 25 | 24 | 4.2 | 1 |
| Buses | 3 | 0 | 1 | 2 | 21 | 12 | 75.0 | 1 |
| * Based on year-ended vehicle registration numbers + Vehicles lighter than 1500kgs excluding Cars ++ Vehicles heavier than 1500kgs excluding Buses Source: Ministry of Infrastructure |
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Download the Vehicle Registrations for June for more information.
