Sri Lanka motor car registrations dip in June, electric cars out of favor: JB

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July 25, 2017 (LBO) – Sri Lanka motor car registrations dipped slightly in June to 2,800 units from 2,812 registered in May, JB Securities said in a research note.

The figure is off a high of 14,544 motor cars registered in September 2015, on the back of policy changes to vehicle taxation.

Electric cars continued to see meagre registrations, at nine units in May compared with 13 units in June — down from 528 units recorded in October of 2015.

Brand new motor car registrations increased by six percent from 982 last month to 1,044 in June, while pre-owned motor cars declined month-on-month by four percent.

Overall premium motor cars observed significant growth from last month, with registrations of 94 units, compared with 64 units in June.

Brand new premium cars were led by Mercedez Benz(E-Class) and the Audi (A-6). Used premium cars were led by BMW 5-series and Mercedez Benz E-class.

SUV’s continued their momentum increasing from 472 in May to 492 in June. Brand new SUV’s were up by 30 percent month-on-month while pre-owned SUV’s declined by three percent.

“Honda Vezel, BMW X5 and Audi Q7 maintained their positive performance from last month. Two Maserati Levante SUV’s were registered in June 2017, they were quoted at Rs 45Mn. Financing share for SUV’s increased marginally from 43% in May to 46% in June.”

Three-wheelers continued their upward trajectory, increasing by 12.5 percent month-on-month. Registrations in June were 1,876, up from 1,667 in May and down from high of 13,668 units in November 2015.

Bajaj led the way, increasing market share from 92.4% to 94.6%. Financing share increased from 59.7% in May to 63.4% in June.