Mar 01, 2012 (LBO) – Japan has increased its share in Sri Lanka’s auto market to 36 percent from 33 percent in value with a surge in hybrid vehicles, amid a boom coming after a cut in taxes, Sri Lanka’s main business chamber said. More than 100,000 petrol driven three wheelers have been imported in 2011. Diesel three wheeler lagged are there are only 20,000 in the country. The chamber said 99 percent came from India.
The Ceylon Chamber of Commerce said in an analysis of the auto market that market leader India’s share has in terms of value had fallen to 45 percent to 51 percent. China was third with 5.0 percent.
The value of imports had increased to 219 billion rupees from 117 billion rupees.
The CCC said 57,886 cars and were registered in 2011 up 11 percent while 525,421 vehicles of all types were registered in 2011, up 32 percent from a year earlier including over 250,000 motor cycles.
In 2011, 5,927 hybrid vehicles were imported up from 438.
“This growth momentum is likely to continue with the increase in fuel prices,” the Ceylon Chamber of Commerce said.
“Japan is the leading supplier of hybrid vehicles into Sri Lanka in almost all categories of vehicles except for cars of cylinder capacity exceedin