Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed. More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent a year earlier, JB Securities said.
Motor cycle sales were up 19 percent to 15,965 in March from a year earlier. Financing share of motor cycles were also up to 62.3 percent from 56.7 percent a year ealier.
Lease finance rates have eased over the past year with Sri Lanka recovering from a balance of payments crisis, triggered by credit taken by state enterprises from state banks to subsidize energy.
Update II Total registrations fell to 23,199 in February from 27,913 in January with a shorter month and less working days, an analysis of vehicle registry data by J B Securities, a Colombo based brokerage shows.
Motor car registrations were slightly down from a year earlier, with hybrids continuing to lead, and motor cycle sales were up, but many commercial vehicle categories were weak.
Three wheeler sales were down 12 percent to 6,014 in March from a year earlier,