Sri Lanka vehicle registrations fall in February as demand slows
ECONOMYNEXT – Sri Lankan vehicle registrations fell sharply in February 2019 to 2,347 units from 3,147 units the previous month and significantly down from 5,024 units 12 months ago, brokerage JB Securities said in a report.
“Vehicle registrations slowed in February due to slowing demand and a smaller number of calendar days in the month,” the report said.
Brand new motor car registrations were marginally up to 434 units in February, from 429 units the previous month, but significantly down from 773 units 12 months ago.
Small engine cars accounted for 76.3 percent of the registrations.
“Indian OEMs (original equipment manufacturers) are yet to produce cars with Euro 4-compliant engines and dual airbags,” the report said.
“Thus they are excluded from the market. Financing share was 50.2 percent, in line with the normal monthly average.”
The number of pre-owned motor car registrations fell to 1,913 units in February, from 2,718 units the previous month but significantly down from 4,251 units 12 months ago, JB Securities said.
Small engine cars below 1,000cc accounted for 90.2 percent of volumes.
“Toyota was the segment leader accounting for 890 units (Vitz 740) followed by Suzuki with 799 units (Wagon R 533)” the report said. Financing share was 56.7 percent in line with the normal monthly average.
(COLOMBO, March 14, 2019-SB)