Sri Lanka vehicle registrations rebounds in Jan 2020

cars-motor-vehicles

Feb 18, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a new report shows.

The recent policy interventions both in terms of fiscal policy (taxation) or capital moratoriums did not target vehicle registrations,” research firm JB Securities said.

“Hence the surge in demand could be due to a rebound in consumer and business confidence and second order effects of the tax cuts.”

Data compiled by the research firm shows  new car registrations recorded 349 units in January up from 244 units in Decemebr but down from 429 units 12 months ago.

Suzuki claimed a 30.7% share followed by Perodua with a 11.7% share. Financing share was 42.4% lower than the normal monthly average of 50%.

Preowned car registrations recorded 2,187 units, 21% up from 1,813 units recorded the previous month but significantly down from 2,718 units recorded 12 months ago.

Toyota dominates this category with a 70.6% share (Vitz 1,015, Premio 234, Axio 106) followed by Suzuki with a 12% share (Wagon R 94, Alto 81). Financing share was 46.9% in line with the normal monthly average.

Premium brand car registrations recorded 155 units (N 65, P 90) in Jan significantly up from 101 units the previous month and 113 units 12 months ago.

Mercedes Benz was the category leader recording 94 units – C class 48 units, E class 13 units followed by BMW recording 29 units and Audi recording 27 units – A1 9 units, A3 5 units.

3-wheeler registrations recorded 1,612 units in Jan almost double the 882 units recorded the previous month but marginally down from 1,706 units recorded 12 months ago. Bajaj had absolute domination of the segment accounting for a 97.8% share.

Financing share was 64.6% marginally down from the normal monthly average of 70%.

2-wheeler registrations recorded 26,588 units in Jan almost 36% higher than 19,432 units recorded the previous month but lower than 28,114 units recorded 12 months ago.

The figure recorded during Jan is significantly higher than the run rate in the last 6 months. Honda is the segment leader with a 39.5% share followed by Yamaha with a 21.3% share.

Financing share was 75.3% in line with the normal monthly average.