Nepal’s largest auto show opened in Kathmandu on Tuesday. The biggest names showed off their latest products, particularly electric vehicles (EVs), which dominated the show, underlining how the country’s market is already in an all-electric state of mind.

Organisers said automakers and dealers unveiled a slew of new models with discounts and bank finance galore.

This is the 16th edition.

Finance Minister Bishnu Prasad Paudel opened the auto show by saying that the monetary policy unveiled recently did not address the automobile sector, but the government has some plans to boost the sector, and amendments to the policy will be made accordingly.

“We will take an appropriate move on electric vehicle (EV) policy amid the ongoing demand.”

The auto show is expected to see transactions worth around Rs20 billion.

Paudel said that the time has come to assemble vehicles in Nepal rather than continue to import all of them.

“We are ready to extend every support to the manufacturers if they intend to establish a plant here,” he said.

The government closely monitors the auto fair, which may provide a much-needed tax boost to the ailing economy amid the slowdown.

Paudel said the auto fair was a significant event contributing to the government’s revenue.

Dealers say that sales may get a boost after a recession in the auto sector for two consecutive years.

According to the organisers, more than 50 auto brands are on display. However, the competition is between China and the rest of the world.

Chinese brands, including BYD, Deepal, Skywell, Dongfeng, Omoda, Neta, MG, and Great Wall, feature at the six-day NADA Auto Show 2024 expo.

As competition has heated, dealers have enticed people with small profit margins and announced newer, cheaper models and promotions.

EVs dominate the NADA auto show, said Anup Baral, coordinator of the event. He noted that 24 four-wheeler brands, 19 two-wheelers, and 12 light commercial vehicles will participate in the fair.

The auto show offers a four-wheeler for a price starting at Rs1.7 million.

“All the 23 four-wheeler brands and 19 two-wheeler brands unveiled new models and variants on the first day of the auto show,” Baral said.

Chandra Prasad Dakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said Nepal still lacks sufficient infrastructure for EVs. “It can be both charging stations and roads, which are crucial.”

Speaking at the opening ceremony, dealers said automobiles should not be considered a luxury sector. They said it needs to be considered in terms of the economy and sources of revenue.

The private sector also raised concerns as spare parts, the million-dollar business, were happening through illegal channels.

The auto show has around 120 stalls of two-wheelers and four-wheelers, including commercial vehicles, financial institutions, lubricants, batteries, and spare parts.

Nepal’s booming EV market saw a 149 percent increase in imports in the last fiscal year, which ended in mid-July. The country brought in 11,701 EVs worth Rs29.48 billion during this period.

Automobile traders said that roughly 85 percent of the passenger vehicle market in Nepal consists of EVs.

The crowd has increased since the first day of the auto show.

The stalls of two-wheelers, four-wheelers, and light commercial vehicles reported many bookings on the fair's first day.

“We received a good number of visitors on the first day of the auto show compared to last year’s,” Baral said.

What’s in the show?

Hansraj Hulaschand and Co Pvt Ltd launched new two-wheelers, the Speed 400 and Scrambler 400 X. The Speed 400's introductory price is Rs639,900.

Bajaj Motorcycles launched the Bajaj Pulsar NS400Z, priced at Rs559,900 in Nepal.

Sipradi Trading, the authorised distributor of Tata Motors, launched Punch.ev with a starting price of Rs3.39 million.

The authorised distributor of CFMOTO, Rishi Trade Center, launched the CFMOTO 450MT two-wheeler priced at Rs1.24 million.

Laxmi E-Mobility, the authorised distributor of Kaiyi, unveiled three models. The starting price is Rs2.29 million.

ZEEHO brand electric scooter AE4, distributed by Tishi Trade Center, launched a scooter at Rs299,900.

Delta Autocorp, the exclusive distributor and importer of Vespa and the Aprilia scooter brands in Nepal launched the Aprilia Storm 125 BS6 scooter with an introductory price of Rs324,900.

MAW Group, the authorised dealer of Yamaha, unveiled its latest adventure bike, the Yamaha WR 155R and MT 15 V2.

CG Motors & CG Evolution Pvt Ltd has unveiled three new EV brands: AVATR, X-PENG and Riddara.