Aug 11, 2011 (LBO) – Sri Lanka’s brand new automobile market is dominated by India’s Maruti and Toyota is leading the re-conditioned or imported used car segment, an analysis by J B Securities, a stock brokering firm, shows. Maruti/Suzuki sold 1,373 cars in July 2011, and on average sold more than 1,100 units each month according to new vehicle registrations.
The best selling model was the ‘Alto’ which sold around 600 to 850 units a month. In July 858 units were registered.
Malaysia’s Perodua and India’s Tata cars were a distant second selling about 200 unit a month. In July, 175 Perodua cars and 177 Tata cars were registered. Tata started selling its ‘Nano’ in Sri Lanka recently.
Tata registrations shot up to 179 and 177 in June and July from a low from less than 20 a month up to May. Among ‘reconditioned’ or used cars imported mainly from Japan, Toyota dominated, with more than 2,000 units being registered a month. But after May, when 2,368 Toyota’s were registered volumes had declined. In June only 1,705 were registered and July 1,316.
Sri Lanka tightened rules of re-conditioned vehicle imports in April. Reconditioned vehicle registrations dropped from a peak of 3,110 in May to 1,727 in July.