NADA Auto Show 2024: EV Price discount, bank loan interest

The “NADA Auto Show 2024” began on Bhadra 11 and will run till 16 (August 27 to September 01). Organized by the NADA Automobiles Association of Nepal, the popular exhibition already saw the launch of new cars from popular brands such as Tata Punch EV, JAECOO J6, etc.

The fair is organized at the Bhrikuti Mandap Exhibition Center in Kathmandu. Customarily, the event is a fitting home for auto manufacturers and local sellers to tease their upcoming hot sales. Besides the new lineups, vehicle parts, financial services, and other value differentiation services will also be offered. In the meantime, brands have offered lucrative discounts on their automobiles, while various banks have also announced attractive loan services.

Usually, the best electric cars in Nepal are often launched during this very show. This edition shouldn’t be any different either as many brands are ready to unveil their best auto products during the popular exhibition fare.

NADA Auto Show 2024 opens to enthralling booking

The NADA Auto Show 2024 kicked off to an exceptional start. On day one, a total of 250 vehicles were booked. Among the lot, the much-anticipated Tata Punch EV led the race with 100 units booked on the show’s opening day.

Likewise, 32 units of Nami were also booked. Omoda E5, Jaecoo J6, etc. also made big openings on the inaugural day of the popular auto show. According to the organizers, over 8,500 visitors made their way into the NADA Auto Show 2024 stalls.

Brands cut price and offer discounts on electric vehicles at NADA Auto Show 2024

Various EV brands have announced eye-catching offers, discounts, and price reductions on electric vehicles for buyers at the show. Some of these offers extend beyond the show till the upcoming Dashain/Tihar festival season. Check out price discounts on electric vehicles during the NADA Auto Show 2024 in Nepal.

• Seres-3: Seres has slashed prices for both variants of its Seres-3 EV. MAW Vriddhi Corp has reduced the price of both variants by an average of Rs 4 lakh during the NADA Auto Show. So, after the reduction, the Comfort Variant costs Rs 45.49 lakh while the Premium variant now costs Rs 48.87 lakh. Previously, the Comfort and Premium variants cost Rs 49.99 lakh and Rs 52.99 lakh, respectively.
• MG ZS EV: MG, likewise, has brought its own offers for ZS EV in the Nada Auto Show. The car originally cost Rs 52.99 in the market. However, the EV brand has slashed its price to Rs 46.99. The price revision is part of its Dashain-Tihar offer.
• Zeekr X: Zeekr X, unveiled at NAS24 is also coming at a hefty discount for the initial buyers. Manufactured by Zeekr, a subsidiary of Geely, the car comes in two variants. If you are to buy this premium crossover SUV, it will cost you Rs 71.99 lakh for a two-wheel variant, a major Rs 10 discount from its original cost of Rs 81.99 lakh. Likewise, the four-wheel variant costs Rs 1.49 crore which originally costs Rs 1.59 crore.
• Jaecoo J6: Leapmotor has also announced offers for auto customers aimed at the NADA Auto Show. The company is offering Jaecoo J6 EV at Rs 66.99 lakh which will cost Rs 69.99 lakh in the market after the fair concludes.
• Omoda E5: SPG Automobiles has announced its offer on the Omoda E5 EV for buyers during the entirety of the show. During the run time of this offer, the Omoda E5 Luxury variant comes for Rs 60.49 lakh whose original market price is Rs 61.99. The Omoda E5 Deluxe variant price is reduced to Rs 54.99 lakh which costs Rs 55.99 lakh without the offer.
• Deepal S07 and L07: Changal has offered a “Big Bang Offer” for its premium EV Deepal S07 and L07. Customers can buy S07 EV at its pre-budget cost of Rs 71.99 lakh or at 6.99% interest for 7 years. Likewise, the new L07 EV can be bought at 6.99% interest for 7 years.

Banks announce loan, interest, and service fees for electric vehicle purchase in NADA Auto Show 2024

• Nabil Bank announced loans for 5 years and 7 years with fixed interest rates. The commercial bank shared that it will provide a 5-year loan at an 8.25% interest rate and 0.75% service charge for loans on both electric vehicles and fuel vehicles. Similarly, the bank will provide loans at an 8.49% interest rate for 7 years with the service charge being again 0.75%.
• Machhapuchchhre Bank Ltd. (MBL) will provide a loan at a 1% premium on the base rate. The bank says that it will offer loans up to 70% for EVs and 50% for fuel-powered vehicles. The bank is charging only 0.5% in service fees.
• Himalayan Bank is offering loans to EV buyers by adding a 0.5% premium to the base rate. The bank says that there is a 0.65% premium on the base rate for vehicles running on fuel. It provides up to an 80% loan facility for EVs and a 50% loan facility for fuel-powered vehicles. The bank will also provide various discounts on interest rates and service charges for customers during the NADA Auto Show 2024. The bank is providing a loan for a period of a maximum of 8 years.
• Sanima Bank has offered a fixed interest rate of up to 7 years. The bank will offer loans at a fixed interest rate of 8.49 % for 7 years for any type of vehicle purchase and will charge a 0.5% service fee only. The offer will last till Tihar.
• Global IME Bank will provide a fixed interest rate loan for 5 years at 7.99% for EV buyers and will charge a 0.75% service fee.
• Lakshmi Sunrise Bank announced a special loan offer on EVs. The bank announced a loan offer at 8.99% interest at a fixed interest rate for 7 years for auto buyers at the auto show. Likewise, the bank is charging a 0.5% service charge. The bank has implemented a 1% premium on the base rate.
• Nepal Investment Mega Bank (NIMB) has announced a loan for EV purchase by adding a 1% premium to the base rate. Likewise, the bank is only charging a 0.5% service charge on loans for a maximum of 7 years. For loans below Rs 50 lakh, the loan period is limited to 5 years. For fuel-powered vehicles, the bank has placed a 2% premium on the base rate with the same 0.5% service charge.
• Agriculture Development Bank (Krishi Bikas Bank) has announced a discount of 82% on interest rates and 33% on service charges. The bank has announced a loan at an interest rate of 7.99% with an 82% discount on the premium for the NADA Auto Show.
• Mahalakshmi Bikas Bank will provide loans at a fixed interest rate of 9.99% for 2 years and then maintain a premium of 1% on the base rate. The bank provides loans for 5 years in EVs and 7 years in other vehicles. The service fee, meanwhile, is negotiable, according to the bank.

Electric cars launched in NADA Auto Show 2024

Like in previous editions, this year’s NADA Auto show has also seen the launch of various four-wheelers and eco-friendly electric ones have dominated the fair. So far, Tata Punch EV, Nammi, Deepal L07, etc. have made big headlines. Here is the list of all the electric cars launched during the show in alphabetical order.

All about Automobile

NADA Auto Show 2024 is the latest iteration of the auto exhibition event hosted annually by the NADA Automobiles Association of Nepal. It’s a highly coveted fair in the automotive industry where, manufacturers exhibit their upcoming 4-wheelers, 2-wheelers, etc., and offer other industry-related services.

During the exhibition, 24 4-wheeler brands, 12 2-wheeler brands, and 12 light commercial vehicles will participate. Altogether, a total of 55 brands will unveil their auto products during the 6-day events. The prestigious auto show is expecting 75,000 visitors this year.

The coordinator of the NADA Auto Show Committee Mr. Anup Kumar Baral, says that the show 2024 edition will introduce positive energy and innovative technologies to the industrialists, traders, entrepreneurs, employees, and general consumers involved in the vehicle sector, who are making a special contribution to the economy for revenue collection and job creation.

Also read: Electric Vehicles tax in Nepal: Budget FY 2081/82 Latest

However, Deepal, Maruti Suzuki, BYD, OMODA, MG, and the like got their stalls outside the main exhibition hall.

Registration for the stalls was opened from Jestha 31st to Ashar 5th (June 14th to 19th), The brands were allocated stalls in a Lucky Draw as in the previous years. It’s the 16^th edition of the NADA Auto Show in Nepal.

Also find: BYD Atto 3 Latest Price and Specs in Nepal [2024]

What else is showcased at the exhibition?

While cars likely dominate the exhibition along with mini cars during the NADA Auto Show 2024, it will also make significant space for 2-wheelers, 3-wheelers, light commercial vehicles, auto components, garage equipment, etc.

Cars launched during the NADA Auto Show 2024?

It’s obvious that major auto brands introducing their new electric vehicles (EVs). Tata Punch EV, Nammi 01 EV, XPeng G6 EV, and JAECOO J6 were launched on the first day of the show. Likewise, AVATR 11, GWM Tank 500, Changan Lumin, Hyundai Creta Facelift, BAW’s Brumby EV, etc. will be at the showcase as well.

In the meantime, Sangrila Motors introduced the Leapmotor C10 EV SUV while Changan Nepal is prepared to unveil the premium sedan Deepal L07 at the popular auto fair. Besides, BYD has launched Sea Lion 07 at the same event and we can expect Seagull to be unveiled.

TATA Tiago was a show steal in 2023 and it’s going to be interesting to see which brand and particular model grabs the limelight this year around.

Some Frequently Asked Questions (FAQs) on NADA Auto Show 2024

For any other information on the NADA Auto Show 2024, do leave your query in our comment section below.