Vehicle Trends

May 20, 2013 (LBO) – Sri Lanka’s motor vehicle registrations have picked up slightly in April 2013 though still remaining far below levels seen after taxes were hiked last year, an analysis by an equities research house shows. There was a slight pick-up in all vehicle registrations in January 2012 and which petered off in the next two months.

Motor cycles registrations rose to 14,363, also a four month high from January’s 14,002, but far below the 22,000 units seen before a tax hike.

The data may point to a slight recovery in economic activities.

Last year taxes were raised twice for ordinary citizens while elected rulers got tax free and state workers got tax slashed in a travesty of liberty and equal treatment of citizens.

Automobile registrations picked up to 1,974 in April 2013, from 1,589 in March, the highest since taxes were raised in April 2012 in a mistaken belief that car imports rather than central bank credit was causing a balance of payments crisis.

Car registrations were driven by a spike in re-conditioned or used cars which rose to 1,154 in April from 583 in February and 778 in March, led by a pick up in Japanese made Toyota cars an analysis of data from Sri Lanka’s motor vehicle