Jan 21, 2021 (LBO) - Sri Lanka's vehicle registrations for the month of December show an increase mainly due to a shifting of registrations from the month of November, a new report says.
Data compiled by JB Securities equities research shows that total vehicle registrations recorded 4,407 units in the month of Dec up from 2,868 units in November.
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"Industry sources confirm that this is not an indication of an uptick in sales but due to the shifting of registrations from the month of Nov to Dec," the report shows.
The registrar of motor vehicles was closed during a period in November on account of social distancing measures taken due to Covid19.
Large tractors have recorded 862 registrations in Dec significantly up from 285 units in Nov and 228 units 12 months ago. There are no import restrictions on agriculture equipment and it’s a seasonal product which explains the large jump in volumes.
Locally assembled Zotye car (Ideal motors) recorded 48 units and in the SUV category DFSK (united motors) recorded 55 units.
"Vehicle registrations further fall to virtually nil in January," the report added.