Vehicle registrations rebound following duty cuts

Sri Lanka’s vehicle registrations in January this year recorded a rebound compared to December 2017 specifically in the small car segment, motor cycles and heavy trucks following the duty cuts in the 2018 budget.

In the car segment registrations in January there were 5,306 units significantly up from 3,394 units in December and 3,487 units, 12 months ago, JB Securities said in their latest research report.

The brand-new segment recorded 840 units in the month 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 per cent of the total – Suzuki/Maruti accounted for 252 units of which 114 units were Wagon R imported by the agents.

Toyota is showing steady growth with its Wigo model registering 55 units which is a 1L petrol engine small car that is manufactured in Indonesia and marketed locally for Rs. 3.4 million.

Pre-owned cars accounted for 4,466 units in January which is a 24 month record up from 2,638 units in December and significantly up from 1,930 units, 12 months ago.

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.

Electric cars recorded 18 units in January up from 6 units in December but significantly down from 40 units 12 months ago. Nissan Leaf accounted for 16 units.
SUVs accounted for 541 units in January up from 454 units in December and up from 434 units, 12 months ago.

Toyota claimed market leadership recording 254 units lifted by 146 units of its CH-R model which is a 1.3L crossover followed by 64 2.7L Prado Jeeps.

Hybrids accounted for 2,984 units in January up from 2,590 units in December and significantly up from 1,856, units 12 months ago.

Motor cars accounted for 2,757 units in the month with Suzuki registering 2,250 units (Wagon R – 1,883) followed by Toyota with 230 units (Axio 108 units, Aquan 71 units).

Vans recorded 829 units in January up from 673 units in December and 627 units, 12 months ago. Suzuki was the market leader accounting for 516.

The 3-wheeler segment recorded 1,543 units in January up from 1,236 units in December but significantly down from 3,327 units, 12 months ago. Bajaj continued to enjoy dominance in the segment followed by TVS and Piaggio.

Two-wheeler registrations recorded 31,596 units significantly up from 25,019 units in December and marginally up from 31,158 units, 12 months ago.

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