Sri Lanka small car, heavy truck imports rebound in January
ECONOMYNEXT – Sri Lankan vehicle imports recovered in January 2018 with big increases seen in small cars, scooters and heavy trucks, especially tipper trucks, brokerage JB Securities said in a report.
“January has seen a strong rebound in vehicle registrations compared to December 2017 specifically in the small car segment, 2-wheelers and heavy trucks,” it said.
Total car registrations in January rose to 5,306 units, significantly up from 3,394 units in December and 3,487 units 12 months ago, with small cars accounting for the bulk of new and second-hand imports.
There were 840 registrations of brand-new cars in January, up from 756 units the previous month but significantly down from 1,149 units 12 months ago.
“The segment is dominated by small cars which account for 88% of the total – Suzuki/Maruti accounted for 252 units of which 114 units were Wagon R imported by the agents,” JB Securities Managing Director Murtaza Jafferjee said.
Toyota is showing steady growth with its Wigo model with 55 units registered. It is a 1L petrol engine small car that is made in Indonesia and marketed locally for Rs3.4 million.
Pre-owned cars accounted for 4,466 units in January, which is a 24 month record, up from 2,638 units in December 2017 and significantly up from 1,930 units 12 months ago, the report said.
Suzuki accounted for 2,777 units of which 1,883 were Wagon R followed by Toyota which accounted for 1,257 of which 760 units were 1L Vitz.
Heavy trucks registrations rose to 398 in January, up from 322 units in December and significantly up from 222 units 12 months ago, Jafferjee said.
Tata wa the market leader with a 47.4% share followed by Lanka Ashok Leyland with a 44.9% share.
Jafferjee said registrations of tipper models rose to 159 in January, up from 81 units the previous month and 115 units 12 months ago.
Registrations of two-wheelers shot up significantly to 31,596, in January 2017 from 25,019 in December, and marginally up from 31,158 units 12 months ago.
Scooters accounted for close to 60%, JB Securities said. “
“Honda dominates this category accounting for 58% share and 38.8% segment share. Bajaj is a distant second with a segment share of 17.2% followed closely by Yamaha with a 15.3% share and TVS with a 14.2% share.”
(COLOMBO, March 02, 2018)