Registrations continued to rise

Vehicle Registrations
April 2016

  Apr Mar 16
Feb 16
Jan 16

New Registrations
250 193 185 243

Registrations continued to rise

There were 250 vehicles registered in the month of April, an increase of 57 registrations (29.5%) compared to the previous month. Cars and light vehicles continued to dominate the vehicles registered which rose to 107 and 92 respectively. The number of cars also registered the highest, and increased by 22 vehicles (25.9%) over the month followed by light vehicles which rose by 19 registrations (26.0%). This coincides with a rise in import payments for vehicles of $0.4 million (42.8%) to $1.3 million in April. New vehicle loan commitments also rose by $0.01 million, which contributed to the increase in vehicle imports. These vehicles were sourced mainly from Japan which amounted to $0.9 million.

In year-ended terms, the number of vehicles registered rose by 689 registrations (32.1%) to 2,836 vehicles. The majority of vehicles registered during the year were cars and light vehicles. All types of vehicles registered increased except motorcycles. The registrations of cars increased the most by 313 registrations (36.6%). This is consistent with a rise in vehicle import payments over the year by $3.4 million (39.8%) to $11.8 million. The continued decline in fuel prices together with the growing number of vehicles registered supports growth in the transportation sector.

Looking forward, vehicle registrations are projected to increase in the near term, supported by the rise in demand for ordering of cheap online vehicles from Japan. The tourism sector is also expected to have positive spill over effects on the transportation sector, specifically for public transport and car rental providers, and therefore vehicle registrations.

Download the full report: Vehicle Registrations - April 2016






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