Money
Demand for automobile accessories spikes in Nepal
The demand for automobile accessories has surged with the country importing parts and accessories of motor vehicle worth Rs3.18 billion in first seven months which had stood at Rs2.55 billion during the review period last year.
Krishana Prasain
The demand for automobile accessories has surged with the country importing parts and accessories of motor vehicle worth Rs3.18 billion in first seven months which had stood at Rs2.55 billion during the review period last year.
Many vehicle owners opt for accessories to give their ride a new look, from car covers, roof racks, seat covers, chrome fittings and more while others opt to improve the safety of their vehicles, said traders.
Other popular accessories include reverse parking camera, first aid kits, child seats, vacuum cleaner and LED auxiliary lamps.
The statistics of Trade and Export Promotion Centre show that the import of car accessories has increased by 24.38 percent during mid-July to mid-February in the current fiscal year compared to the same time period of last year. The country imports automobile accessories mainly from India and China.
“The demand for automobile accessories has been increasing with the rising number of vehicles users,” said, Raju Pradhan, proprietor of Beatles Decor at Kuleshwor.
Kuleshwor, a 2km stretched road is expanding as major hub for car accessories in the Valley, has been offering various ranges of automobile accessories.
As a large number of automobiles dealers have opened showrooms in Thapathali-Kuleshwor area, numerous car accessory shops have been sprouting in this location to attract potential buyers, according to traders.
Samir Raj Gautam, owner of New Pioneer Decoration House at Kuleshwor, said the vehicle owners flock to the location as the shops there offer wide varieties of accessories.
According to the traders, a vehicle parts and accessories store in the area makes transaction of Rs3 million to Rs4 million per month on average.
“A single store is earning an average of Rs500,000-Rs1 million per month just from the service charge for installing the accessories,” informed one of the leading shop owners at Kuleshwor, on condition of anonymity.
In addition to safety and luxury, accessories used in decoration of cars are among the best sellers. The traders offer such accessories in the price range between Rs20,000 and Rs250,000 to customise the look of vehicles.