An Echelon Media Company
Monday November 9th, 2026

New Range Rover Evoque — City Car or Softroader?

The new Evoque retains the same basic design cues as the first generation.

Ten years ago, the Evoque answered a question no one thought of asking: what happens if youtook the utility out of “Sports Utility Vehicle?” The falloutsaw the creation and subsequent mushrooming of a new segment. Players include all of the German luxury brands, each offering their own interpretation of what a small, stylish SUV should be.

This, the sequel to the original city-SUV, will be hugely important to the company. In the face of a global slowdown in sales, accentuated by waning demand in China, Land Rover desperately need a win. But the Evoquefinds itself up against a slew of new rivals. And it’s not just the newly-created competition, but internally too. The Land Rover range has been extended to the point in which many observers see multiple models fulfilling the same role. For Sri Lanka, largely due to tax considerations, the Evoque is priced similarly to their own Velar, and Discovery Sport.

Virtually identical in dimensions to the previous model, the Evoque remains suited for city-dwelling.

On Land Rover’s part, they’re clear with who the new Evoque is targeted at. Gone are the emblazoned claims of the Evoque’s off-road ability. In comes positioning as a car for the city. As such, the Evoque’s external dimensions remain largely the same as the original – ideal for navigating tight alleys and multi-storey car parks. Dive a little deeper and you’ll find the Evoque is still fairly capable off-road. It has AWD, terrain-response, hill-decent control and can be outfitted with ultra-sonic depth sensors for water wading. But this is a segment dominated by style; something that, when first launched, the Evoque was lauded for.

The silhouette of the original has been carried over. The broad strokes are roughly the same, but the chunky details have been smoothed over. There’s a subtle gravitation towards the cleaner elements that were introduced with the Velar. And, like the Velar, you now get the choice of an R-Dynamic design pack which adds fake vents and aggressive bumpers. And, due to waning demand, there’s no longer a 3-door, nor a convertible either.

Although primarily geared for towns, there’s still an emphasis on off-road ability. Some models can be outfitted with depth sensors for wading.

For now, the Evoqueis offered with just one engine: a two-litre four-cylinder petrol mild-hybrid. It comes in three states of tune, with the model designation denoting power. P200, P250 and P300 have the corresponding amounts of horsepower. Being a mild-hybrid, the Evoque is never really an EV. Rather, the engine is shut down when coming to a stop, and the electric motor aids acceleration. The real headliner for Sri Lanka will be the import-tax-friendly 1.5 litre full hybrid. The full-on hybrids were slated for launch later in 2020, although with the current standstill mandated by the Coronavirus, that’s likely to be pushed back

The P250 is what we tested and has, as the name implies, 250bhp. P200 and P300 variants also exist.

Inside the Evoque, the centre console is predominantly made of screen. Glossy and glary, there are very few physical buttons – the three screens are the main way to interact with the various options and functions. The layout looks less futuristic now than what it did when it was introduced on the Velar. The interior remains a nice place to be, with plush-feeling materials used liberally. If anything, the new car feels a cut above its predecessor in this department, offering a more relaxed and plush cabin.

The Evoque’s interior follows the same as what was set out in the Velar — Twin screens take up the bulk of the facia.

We had the opportunity of testing old and new back-to-back. It became apparent that the new car edges even further away from the utilitarian underpinnings of LR’s forbears. Ride is well-controlled, although the magnetically adjustable suspension (coils, not air) don’t allow for the wafting sensation found in the flagship Range Rover. Instead, expect to feel the road, especially if rolling on larger wheels. But all is done while keeping body motion in check, despite rather numb steering.

There’s a large range of wheel options on offer. But without the benefit of air-suspension, wheel size has a direct bearing on comfort.

The 2-litre engine performs well, although it’s not the quietist, as it gets buzzy around the latter part of the tachometer. Despite having 250BHP you’re hard-pressed to feel it. This is likely down to significant weight gain; a result of steel being used predominantly within the new platform. At over 1800kgs it’s at least 200kgs heavier than the older car.

The centre screen can display a variety of info, including turn-by-turn navigation.

Overall, the Evoque has a lot going for it. Sadly, a tax-induced eye-watering price of LKR25mn means the few that are here will likely remain fairly exclusive. Once the hybrid, 3-cylinder version arrives the appeal will increase. Assuming taxes stay at the levels they are now the 1.5 litre hybrid may just sneak in under LKR15mn – a price that’s far more palatable for an SUV that will likely never leave the city. Just as intended.

-SPECS-

Engine: 2.0 litre 4-cyl turbocharged petrol mild-hybrid, 249bhp, 365NM
Gearbox: 9-speed automatic
Performance: 0-100kmph 7.5secs, 230kmph
Price: LKR25mn*
*Prices are accurate for model and trim specified at the time of publishing

Sam D. Smith in an automotive editor and journalist with a life-long passion for all things car. He is a member of the Guild of Motoring Writers (UK) and nominee for the Sir William Lyons Award for automotive journalism.

Sri Lanka stocks close up 1.37-pct, banks lead turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Monday, CSE data showed, with the benchmark All Share Price Index moving up 1.37 percent.

The ASPI was up 291.72 points at 21,531.37, while the more liquid S&P SL20 was up 1.67 percent, or 100.96 points, at 6,146.34.

Positive contributors to the ASPI were Commercial Bank of Ceylon (up 2.86 percent at 216.00 rupees), Hatton National Bank (up 1.52 percent at 399.75 rupees), Asiri Hospital Holdings (up 12.86 percent at 31.60 rupees), Tokyo Cement Company (up 5.22 percent at 84.70 rupees), and Access Engineering (up 3.93 percent at 81.90 rupees).

Carson Cumberbatch (down 4.24 percent at 712.00 rupees), Richard Pieris and Company (down 2.43 percent at 28.10 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), Renuka Holdings (down 2.63 percent at 37.00 rupees), and Chevron Lubricants Lanka (down 0.61 percent at 204.25 rupees) were top negative contributors.

Market turnover was 3.33 billion rupees. The S&P/CSE Banks Industry Group led turnover with 667.76 million rupees.

The session saw heavy crossings, according to Raynal Wickremeratne, Head of Research and Strategy at NDB Securities. Significant crossings included Keells (23 million rupees), Distilleries Company (27.7 million rupees), Sunshine Holdings (30.6 million rupees), Commercial Bank (32.4 million rupees), Ceylon Tobacco Company (35.6 million rupees), Hatton National Bank (39.5 million rupees), Prime Lands (40.5 million rupees), and HAS Holdings (41.5 million rupees).

In corporate news, Hayleys Retail Holdings Ltd announced it has partnered with supply chain software provider Blue Yonder to build and scale an AI-native grocery supermarket chain across Sri Lanka. (Colombo/Nov09/2026)

 

Continue Reading

Sri Lanka’s Hayleys Retail to launch supermarket chain with Blue Yonder

ECONOMYNEXT — Hayleys Retail Holdings Ltd has selected supply chain software provider Blue Yonder to build its grocery retail operations from the ground up, the two companies said in a joint statement.

Hayleys Retail, a member of Sri Lanka’s diversified conglomerate Hayleys Group, plans to open several stores in the near future to serve consumers across the country. The agreement marks Blue Yonder’s first retail customer in Sri Lanka.

“Our entry into supermarket retail is about bringing that same commitment to quality and reliability closer to everyday Sri Lankan consumers,” Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC said.

“With Blue Yonder, our teams will have AI-driven insight to deliver a seamless, consistent shopping experience across every store,” he said.

Hayleys, which accounts for approximately 5 percent of Sri Lanka’s export income and operates across 17 business sectors, is entering the large-scale supermarket space by drawing on its group strengths in manufacturing, logistics, and services.

The company selected Blue Yonder to connect its data across merchandising and shelf space, deploy artificial intelligence agents to catch operational issues early, and scale its business into a national network without changing platforms.

The rollout will begin with merchandise operations to manage suppliers, items, costs, and pricing, followed by machine learning capabilities to forecast demand and balance store inventory during seasonal peaks.

“Hayleys Retail is choosing one where AI is the foundation rather than an add-on—connected data and agentic AI built into core merchandising operations, and planning that learns as the business grows,” Antonio Boccalandro, President, APAC at Blue Yonder said.

The retailer plans to use the platform to automate routine store tasks and adjust inventory according to real-time sales and local market trends as its store footprint grows. (Colombo/Nov09/2026)

 

Continue Reading

Sri Lanka’s Citrus Leisure extends Lotus Tower management pact

ECONOMYNEXT – Sri Lanka listed hospitality firm Citrus Leisure said it has extended an agreement to manage consumer-facing and entertainment spaces at the Colombo Lotus Tower, which includes revolving restaurant Blue Orbit, until June next year.

The initial agreement signed between Citrus Leisure and Colombo Lotus Tower Management Company (Private) Limited (CLTMC) is due to expire on December 11.

“The Board of Directors of CLTMC at meeting held on 2nd November 2026 has resolved to extend the term of the Management Agreement and continue the existing Management Agreement until 30th June 2027, to which the company has given its concurrence,” the company said in a market filing.

Citrus Leisure Plc opened its revolving restaurant at the Lotus Tower in December 2023.

The company signed a 3-year agreement with CLTMC in May 2023 to provide services in the management of (l) the banquet hall 1 on the 25th floor, (2) the banquet hall 2 on the 26th floor, (3) the revolving restaurant on the 27th floor, (4) the 6 suites situated on the 28th floor and the kitchen in the basement floor of the Colombo Lotus Tower.

The 350-meter or 1,150-feet tower, the tallest in South Asia, was built at a cost 104.3 million US dollars with 80 percent of the money borrowed from Exim Bank of China.

Located in the commercial heart of Colombo, the tower has been called a symbolic landmark of Sri Lanka as well as a colossal white elephant and has been mired in controversy for years. (Colombo/Nov9/2026)

Continue Reading

CIC Holdings Sept quarter net profit rises 20-pct to Rs1.7bn

ECONOMYNEXT — Sri Lanka conglomerate CIC Holdings recorded a net profit of 1.66 billion rupees for the quarter ended September 30, rising 20.3 percent from 1.38 billion rupees in the same quarter last year, interim accounts showed.

The group posted basic earnings per share of 0.87 rupees for the September quarter, up from 0.73 rupees a year earlier.

Quarterly revenue grew 3.4 percent to 20.89 billion rupees from 20.20 billion rupees, supported by broad-based growth across industrial solutions, livestock, and healthcare segments, which counterbalanced relative demand moderation in agricultural inputs.

Cost of sales rose 5.3 percent to 15.20 billion rupees, outpacing revenue growth and causing gross profit to contract marginally by 1.2 percent to 5.68 billion rupees.

Results from operating activities dropped 7.3 percent to 2.66 billion rupees from 2.87 billion rupees, impacted by higher operating overheads.

Selling expenses expanded 6.8 percent to 2.15 billion rupees, and general and administrative expenses climbed 5.8 percent to 1.07 billion rupees, while other operating income dropped 29.6 percent to 117.40 million rupees.

However, operating profits were cushioned by an impairment reversal on trade receivables of 85.83 million rupees, turning around from an impairment provision of 23.38 million rupees in the corresponding quarter last year.

Net finance costs climbed 35.4 percent to 712.25 million rupees from 526.01 million rupees.

The increase was driven by a 30.8 percent rise in finance expenses to 771.46 million rupees, primarily reflecting higher interest expenses on loans to finance elevated working capital and inventory requirements.

The quarter’s bottom line was strongly bolstered by CIC’s equity-accounted investment in John Keells Holdings PLC (JKH).

Share of profit from equity-accounted investees surged more than fourfold to 590.50 million rupees from 257.87 million rupees, driven by JKH’s strong profit expansion during the period.

The group also recognized a gain on bargain purchase of 55.59 million rupees during the quarter resulting from additional share purchases in JKH where the proportionate net asset value exceeded acquisition cost, compared to no such gain a year earlier.

With associate income gains offsetting operating margin contraction and higher borrowing costs, group pre-tax profit held virtually flat at 2.59 billion rupees, down 0.11 percent.

Income tax expense fell 29.4 percent to 606.24 million rupees from 858.71 million rupees, driving total group profit for the period up 14.1 percent to 1.98 billion rupees.

Total group assets stood at 108.58 billion rupees as of September 30, up from 99.75 billion rupees at the end of March 2026.

Group net asset value per share increased to 25.52 rupees from 22.10 rupees a year earlier.

CIC Holdings’ ordinary voting shares closed at 27.80 rupees at the end of September.(Colombo/Nov09/2026)

 

Continue Reading

Sri Lanka stocks trend up; ASPI gains 0.78-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.78 percent.

The ASPI was up 165.73 points at 21,405.38, while the more liquid S&P SL20 was up 0.61 percent, or 37.04 points, at 6,082.42.

Positive contributors to the ASPI were Commercial Bank (up 1.55 percent at 213.25 rupees), Ceylon Cold Stores (up 2.61 percent at 128.00 rupees), Asiri Hospital Holdings (up 10.00 percent at 30.80 rupees), Hemas Holdings (up 1.27 percent at 32.00 rupees), and Ambeon Holdings (up 6.02 percent at 37.00 rupees).

Namunukula Plantations (down 3.92 percent at 63.70 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), and Chevron Lubricants Lanka (down 0.12 percent at 205.25 rupees) were top negative contributors.

Market turnover was 428.31 million rupees. Capital goods led turnover with 82.53 million rupees. (Colombo/Nov09/2026)

Continue Reading

Sri Lanka rupee at 332.54/58 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 332.54/58 to the US dollar spot on Monday, stronger from 332.55/60 Friday, while bond yields held broadly steady, dealers said.

A bond maturing on 15.09.2029 was quoted at 10.90/95 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 was quoted at 11.00/10 percent, down from 11.05/10 percent.

A bond maturing on 01.02.2031 was quoted at 11.10/20 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 was quoted at 11.58/68 percent, up from 11.55/65 percent.

A bond maturing on 01.06.2033 was quoted at 11.80/95 percent, up from 11.80/85 percent.

A bond maturing on 15.10.2034 was quoted at 12.08/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 was quoted flat at 12.30/40 percent.

The telegraphic transfer rate for the dollar was 328.05 buying, 337.05 selling; the euro was 363.3528 buying, 377.1336 selling; pound was 437.5954 buying, 451.7038 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.78 percent, or 165.42 points, at 21,405; while the S&P SL20 was up 0.58 percent, 35.19 points, at 6,080.

90,000 million rupees Treasury bills are to be issued through an auction on November 11. (Colombo/Nov9/2026)

Continue Reading