Sri Lanka vehicle registration in Dec 2019 subdued

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Jan 28, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,057 units in December 2019 marginally up from 2,030 units in November but down from 2,669 units 12 months ago, a new report shows.

Data compiled by JB Securities equities research shows in the overall segment Toyota is the market leader with a 64.2 percent share followed by Suzuki with a 15.9 percent share.

New cars registrations recorded 244 units in Dec down from 264 units in Nov but significantly down from 352 units 12 months ago. Suzuki recorded 92 units with a 37.7% share followed by Perodua recording 35 units with a 14.3% share. Financing share was 43.4% down from the normal monthly average of 50%.

Preowned car registrations recorded 1,813 units in Dec up from 1,766 units in Nov but down from 2,317 units 12 months ago. Toyota registrations were 1,295 units (71.4% share) – Vitz 805, Premio 204, Axio 127 distantly followed by Suzuki with 235 units (13% share) – Wagon R 90, Alto 67. Financing share was 45.7% in line with the normal monthly average.

Taxes on cars are via an excise duty based on engine capacity and a luxury tax of 60% above a value of LKR 4 mn – an illustration of the need for a rethink of the current policy is that during the month of Dec only 1 new car (Toyota Camry) and 4 preowned cars (1 Toyota Prius, 2 BMW 7 Series, 1 Mercedes E300) were registered with engine sizes greater than 1,600cc.Premium motor cars recorded 101 units in Dec slightly up from 90 units in Nov and 97 units 12 months ago. Brand new cars recorded 33 units – Mercedes Benz recorded 26 units – C class 14 and Pre-owned units recorded 68 units – Mercedes Benz recorded 36 units – C class 21 units followed by BMW with 19 units – 3 series 11 units.

Electric cars recorded a paltry 3 units in Dec down from 14 units in Nov and 5 units 12 months ago.

SUVs registrations recorded 650 units in Dec up from 638 units in Nov but down from 854 units 12 months ago. Preowned were the majority recording 424 units, the balance 226 units were brand new. Toyota was the segment leader with a market share of 35.5% (C-HR 191) followed by Honda with a 19% share (CR-V 97). Financing share was 35.7% in line with the normal monthly average.

Hybrid vehicles registrations recorded 317 units in Dec down from 390 units in Nov and significantly down from 1,057 units 12 months ago. Toyota is the segment leader with 42.5% share followed closely by Suzuki with a 40.3% share. Cars accounted for 285 units – Toyota with a 46.3% share followed by Suzuki with a 44.9% share. SUVs recorded 31 units, mainly Honda Vezels claiming an 87.1% share.

Vans registrations recorded 619 units in Dec up from 535 units in Nov and 438 units 12 months ago.

Mini vans (<1,000 cc) accounted for 522 units, the balance 97 units were mid-size vans. Preowned made up the bulk of units accounting for 607 units, the balance 12 units were new. Suzuki is the category leader with a 50.4% share followed by Nissan with a 19.5% share. Financing share was 67.7% in line with the normal monthly average.

3-wheelers recorded 882 units in Dec down from 995 units in Nov and 1,332 units 12 months ago. Bajaj is the segment leader with a 96.7% share, it seems like the other players TVS, Mahindra and Piaggio are selling remnants of their stock and probably will temporarily exit the segment. Financing share was 69.3% in line with the normal monthly average.

Overall 2-wheelers registrations recorded 19,432 units in Dec up from 18,540 units in Nov but significantly down from 22,942 units 12 months ago.

In the overall segment Honda is the market leader with a 40.5% share followed by Yamaha with a 21.4% share. Scooter registrations were 13,029 units in Dec up from 11,939 units registered in Nov but down from 14,903 units registered 12 months ago.

All the registrations were new units.

Honda is the category leader with a 55.5% share (higher than its segment share) followed by Yamaha with a 17.4% share (lower than its segment share).

Motorcycle registrations were 6,375 units in Dec slightly down from 6,570 units in Nov and 7,973 units 12 months ago. New units accounted for the bulk of units recording 6,071, the balance 304 units were preowned. In the motorbike category Bajaj is the leader with a 40% share (above its segment share) followed by Yamaha with a 29.3% share (higher than its segment share). Electric bikes recorded a mere 28 units. Financing share was 74.5% in line with the normal monthly average.

Pickup trucks recorded 70 units in Dec down from 85 units in Nov and significantly down from 150 units 12 months ago. Brand new accounted for 64 units, the balance 6 units were preowned.

Brand new accounted for 64 units, the balance 6 units were preowned. Toyota was the category leader via its Hilux model with a 61.4% share followed by Mitsubishi via its L200 model with a 30% share.

Finance share was 28.6% significantly below the normal average of around 50%.

Mini trucks (payload < 1 MT) recorded 114 units in Dec down from 101 units in Nov and significantly down from 178 units 12 months ago. New units accounted for 102 units; the balance 12 units were preowned.

Tata was the category leader with a 75.4% share via its Ace (Dimo batta). Finance share was 79.8% in line with the normal monthly average.

Light trucks recorded 167 units in Dec down from 158 units in Nov and significantly down from 222 units 12 months ago. New units recorded 147 units; the balance 20 units were preowned. Mahindra is the dominant category leader with an 81.4% share via its Bolero Maxi truck. Finance share was 68.3% below the normal monthly average of 85% indicative of an institutional purchase.

Medium trucks recorded 48 units in Dec down from 55 units in Nov and significantly down from 237 units 12 months ago. Preowned units account for 84 units, the balance 50 units were new. Isuzu claimed category leadership with a 61.9% share followed by JAC with an 8.2% share. Financing share was 88.1%.

Heavy trucks recorded 48 units in Dec down from 55 units in Nov and 132 units 12 months ago. Brand new accounted for 42 units, the balance 6 units were preowned. Lanka Ashok claimed a 39.5% share followed by Tata with a 22.9% share. Financing share was 70.8%.

Bus registrations recorded 81 units in Dec significantly down from 152 units in Nov and 101 units 12 months ago. Brand new accounted for 52 units, preowned made up the balance 29 units. In terms of overall share Lanka Ashok Leyland claimed 33.33% followed by Toyota with 24.6%. Financing share was 82.7%.

Hand tractor registrations in Dec recorded 214 units up from 133 units in Nov but down from 269 units 12 months ago. The market leader remained Farm Master which is marketed by Singer claiming a 50.5% share. Financing share was 53.3% in line with the normal monthly average.

Large tractor registrations in Dec recorded 225 units significantly down from 391 units in Nov and 328 units 12 months ago. The market leader is Tafe with a 31.5% category share. Financing share was 84% in line with the normal monthly average.