Aug 14, 2013 (LBO) – Sri Lanka’s car registration have surged forward to a 15-month high of 2,305, up 74.6 percentfrom a year earlier, mostly driven by pre-registered cars, an analysis of data shows. But rulers gave state workers tax slashed permits most of which are now being sold to the more affluent ordinary citizens, who are using them to import cars. Permit led luxury car imports surged to historic highs as a result.
Analysts expect more luxury models to be imported after a new tax slashed category was recently introduced.
The most popular brand of pre-owned cars registered in July Toyota, (1,106) followed by Honda (341).
Among brand new cars, Maruti/Suzuki models picked up to 275 from 166 a month earlier and 236 a year earlier. Maruti’s Alto was the top selling model with 242 being registered in July.
Small car registrations plunged as taxes were raised in 2012, while luxury car imports driven by state worker permits rocketed.
Among luxury brands, there were 68 BMWs registered in July up 1,033 percent from a year earlier. Brand new Mercedes Benz registration rose 80 percent to 18 units.
Mitsubishi’s Montero led the pack among SUVs with 176 out of a total of 594,