The Bhutanese Leading the way.
During the launch of Nu 15 billion Economic Stimulus Programme (ESP), the Prime Minister (PM) Dasho Tshering Tobgay announced that the moratorium on housing and construction loans will be lifted by 1 July 2024 and the moratorium on import of vehicles by 18 August 2024.
PM advised, “We ask the public to refrain from ordering vehicles at this time. We are currently studying the capacity and necessity for vehicles within Thimphu Thromde. If orders are placed prematurely, there may be new conditions imposed on vehicle imports later on.”
Following the announcement on the lifting the vehicle moratorium, both the public and vehicle dealers have expressed their satisfaction. According to the vehicle dealers in the country, public interest and inquiries about vehicles have remained high over the past two years despite the moratorium.
Kinzang, the Director of Ugen Trading House, mentioned that they received numerous inquiries about vehicles even during the ban. However, they did not accept any orders while the moratorium was in effect.
“So yet, there are no backlogged orders. Dumper trucks are our main import, and it takes at least three months to arrive. We’re anticipating a large volume of orders, and have high hopes since the announcement on lifting of the ban on vehicles.”
The majority of the vehicles sold by Zimdra Automobiles are Suzuki models, including the Alto 800, Celerio, Waggon R, Vitara Breeza, etc.
A vehicle dealer said, “The pricing of the vehicle depends on two factors. The first on taxes, and the second on the primary company’s pricing revision. Every year, as vehicles are upgraded, the price of the vehicle is frequently raised. We’ve had customers who have requested advance payments, which shows their desperation to order.”
They also mentioned that many people had inquiries about the cost of the vehicles.
The price of most common vehicles like Wagon R and Celerio is worth around Nu 700,000-Nu 800,000 with tax.
Bhutan Hyundai Motors primarily sells vehicles such as the SantaFe, Creta, i10, i20, and buses, with prices that range from about Nu 1 million to Nu 6 million, taxes included.
They shared, “Importing a car from Korea takes maximum of four months, and from India it takes around three months. As of yet, there are no order backlogs for us.”
PM announced that the Royal Monetary Authority (RMA) will establish a set of criteria that financial institutions must adhere to for vehicle imports.
