Companies have temporarily stopped selling motorcycles on installment plans due to a change in regulations by the Transport Ministry regarding the registration of land vehicles.

According to the change made by the Transport Ministry last November to the regulation on registering land vehicles, only vehicles used for a company's own purposes can be registered under the company's name. This does not include vehicles imported by companies for commercial purposes. As a result, motorcycles can no longer be issued with a "C" board, only with a "P" board.

A senior official from Sheesha, one of the largest motorcycle retailers in the Maldives, told 'One' today that they have temporarily halted installment-based motorcycle sales to make necessary policy changes due to the sudden regulation change without any consultation with companies.

The official said it's difficult to specify when they will resume installment-based sales after making policy changes and completing legal requirements.

The official stated that halting installment-based sales has reduced the company's revenue by 50 percent. He also mentioned that the company's legal team is in discussions with the Transport Ministry regarding the regulation.

Some other companies have also stopped installment-based motorcycle sales due to this regulation.

While Sheesha and some other companies have stopped installment-based sales, Litus, another motorcycle retailer in the Maldives, said they haven't decided to halt any operations. However, they have decided to make some policy changes in line with the regulation change.