Sri Lanka vehicle registrations rebound in March 2019

Apr. 29, 2019 (LBO) – Vehicle registrations rebounded on most categories in March recording a total of 35,150 units up from 29,837 units the previous month due to the higher number of working days in March compared to February, a new report says.

Total motor cars recorded 2,961 units in March up from 2,347 units in February and significantly down from 6,207 units 12 months ago, a report by JB Securities said.

Brand new cars recorded 422 units in March up from 434 units in February and significantly down from 1,069 units 12 months ago. Small cars (< 1,000cc) accounted for 79.3% of units. Financing share was 50.7% in line with the normal monthly average.

Preowned cars recorded 2,539 units in March up from 1,913 units in February but significantly down from 5,138 units 12 months ago. Toyota was the segment leader accounting for 1,344 units (Vitz 1,157) followed by Suzuki recording 918 units (Wagon R 633). Small cars (< 1,000cc) accounted for 91.5% units. Financing share was 54.4% in line with the normal monthly average.

Premium branded cars recorded 160 units in March up from 111 units in February and significantly down from 222 units 12 months ago. The brand-new segment recorded 63 units of which Mercedes Benz accounted for 50 units (C-class 41 units, E-class 8, etc.). In the pre-owned segment 97 units were recorded of which Mercedes Benz was 27 units (C-class 25 units), BMW was 34 units (3-series 19, 7-series 9) and Audi 36 units (A1 20, A3 9).

Under notable premium cars a Ford Mustang has been registered and 2 Jaguar XE cars.

Electric cars recorded 2 units in March down from 7 units in February and 14 units 12 months ago.

SUVs recorded 488 units in March down from 534 units in February and 538 units 12 months ago. Brand new accounted for 240 units and preowned 248 units. Toyota accounted for the largest share recording 138 units (C-HR 92) followed by Honda recording 81 units (CR-V 54, Vezel 27). Ranger Rover had a record month posting 50 Range Rover Sports units.

Hybrids recorded 1,032 units in March up from 953 units in February but significantly down from 3,341 units 12 months ago. Motor cars accounted for 947 units followed by SUVs with 76 units and vans with zero units. In the car category Suzuki accounted for the bulk of the units recording 812 units.

Vans recorded 632 units in March significantly up from 468 units in Feb but down from 811 units recorded 12 months ago. Mini vans (<1,000 cc) account for 84% of volumes. Suzuki was the category leader with a 56% share. Financing share was 66.6%.

3-wheelers recorded 2,192 units in March significantly up from 1,341 units in Feb and 1,515 units 12 months ago. The registration figure is the highest recorded over the past 24 months. Bajaj remains the category leader commanding a 95% share. Financing share was 67.5% in line with the normal monthly average.

2-wheelers recorded 26,851 units in March up from 23,165 units in Feb but down from 30,381 units recorded 12 months ago. Scooters accounted for 17,196 (64%) in March up from 15,120 units the previous month. Honda is the category leader with a 38.9% share due to its 52.8% share of the scooter market distantly followed by TVS and Yamaha who each have a 19.7% and 19.2% category share respectfully. Financing share was 74.9% which is in line with the normal monthly average.

Pickup trucks recorded 127 units in March down from 134 units in February and 159 units 12 months ago. Tata is the segment leader commanding a 55.9% share followed by Toyota with a 34.6% share. Financing share was 64.6% which is 5% higher than the more recent monthly average.

Mini trucks recorded 202 units in March up from 179 units in Feb but significantly down from 444 units 12 months ago. Tata has absolute dominance in this segment commanding a 98.9% share. Financing share was 86.1% which is in line with the normal monthly average.

Light trucks recorded 252 units in March up from 225 units in Feb and marginally down from 255 units 12 months ago. Mahindra is dominant in this segment commanding a 77.8% share mainly through its Mahindra Bolero Maxi truck. Financing share was 81% which is in line with the normal monthly average.

Medium trucks recorded 208 units in March up from 164 units in Feb and significantly down from 339 units recorded 12 months ago. In this category pre-owned has a larger share accounting for 54% share. Isuzu continues to be the category leader with a 58.2% share. Financing share was 77.5% down from the normal monthly average in the mid 80s.

Heavy trucks recorded 138 units in March marginally up from 137 units in the previous month and significantly down from 257 units 12 months ago. Tata continued to be the segment leader with a 54.4% share followed by Ashok Leyland with a 29.4% share. Financing share was 77.5% in line with the normal monthly average.

Buses recorded 76 units in March down from 90 units in February and significantly down from 242 units 12 months ago. Lanka Ashok Leyland continues to be the category leader with a share of 48%. Financing share was 88.2% in line with the normal monthly average.

Hand tractors recorded 141 units in March down from 196 units in February and marginally down from 142 units 12 months ago. Financing share was 61.7% higher than the normal monthly average.

Large tractors recorded 307 units in March up from 217 units the previous month but down from 380 units 12 months ago. Tafe continues to be the segment leader recording a share of 43%. Financing share was 77.2% in line with the normal monthly average.