Stock of licensed motor vehicles up by 2,328 in Q4 2022

In the fourth quarter of 2022, the stock of licensed motor vehicles increased by 2,328 over the previous quarter.

At the end of December 2022, the stock of licensed motor vehicles stood at 424,904.

Out of this total, 74.7 per cent were passenger cars, 12.4 per cent were goods-carrying vehicles and 12.2 per cent were motorcycles/E-bikes/ PA-bikes, special purpose vehicles, E-kick scooters, agricultural vehicles and minibuses.

Buses, quadricycles, all-terrain vehicles (ATVs) and road tractors amounted to less than one per cent.

During the quarter under review, the stock of licensed motor vehicles increased at a net average rate of 25 motor vehicles per day.

Newly licensed motor vehicles

Newly licensed motor vehicles put on the road during the period under review amounted to 4,922.

The majority of newly licensed motor vehicles, 2,652 or 53.9 per cent of the total, were passenger cars, followed by motorcycles/PA-bikes/E-bikes with 1,601 or 32.5 per cent.

Newly licensed ‘new’ motor vehicles amounted to 3,127 or 63.5 per cent of the total, whereas newly licensed ‘used’ motor vehicles totalled 1,795 or 36.5 per cent.

An average of 54 motor vehicles per day were newly licensed during the quarter under review.

Motor vehicles under restriction

During the fourth quarter of 2022, 6,864 motor vehicles were taken off the road due to restrictions. Out of these, 34.5 per cent were garaged, 34.3 per cent were scrapped, while 29.4 per cent were resold.

Motor vehicles that had their restriction ending during the quarter under review totalled 4,470. The majority were recorded as being garaged (52.9 per cent) or resold (46.0 per cent).

Motor energy type

As at the end of December 2022, 249,458 motor vehicles or 58.7 per cent of the total had petrol-powered engines. Diesel-powered motor vehicles reached 155,960 or 36.7 per cent of the total.

Electric and plug-in hybrid motor vehicles accounted for 2.7 per cent of the entire stock, with a total of 11,626 motor vehicles.

When compared to the previous quarter, increases of 36.8 per cent, 10.5 per cent and 9.5 per cent were registered in the plug-in hybrid (diesel-electric), plug-in hybrid (petrol-electric) and mild hybrid (diesel-electric) and combined (diesel-LPG) motor vehicles respectively.