Vehicle registrations continue to slide despite a surge last month
View(s):Sri Lanka’s motor car registrations plunged to 16,067 in the first seven months of 2013, down 47.6 per cent from 21, 707 a year 
earlier despite the surge in July 2013 to a new high, Motor Traffic Department official said.
Car registrations have surged to a new high of 2,911 in July 2013, up 41 per cent from a year earlier, mostly driven by pre-registered cars, he added.
Luxury Sports Utility Vehicles (SUV) registrations rose to an 11-month high of 594 in July 2013. Among luxury brands, there were 68 BMWs registered in July up 1,033 percent from a year earlier.
Brand new Mercedes Benz registration rose 80 percent to 18 units. 176 Mitsubishi’s Monteros, 91 Land Rovers, 48 Kia and 45 Hyundai – both from Korea – were among the luxury cars registered at the Motor Traffic Department in July 2013.
Three wheelers fell to 50,268 (in the same period in 2013), down 2.2 per cent from 51,407 a year earlier, and motor cycles fell to 105,007, down 12.3 per cent from 119,742.
Registrations of lorries also plunged to 3,347 in the first seven months of 2013, down 52.6 per cent from 7,060 a year earlier.
The Sri Lankan government has increased taxes on cars to tackle a balance of payments crisis. The tax hike hit state revenues further aggravating economic problems as car imports plunged, economic analysts revealed.
But the government has granted senior public sector officials tax slashed permits most of which are now being sold mostly to motor car dealers who are using them to import cars. Permit led luxury car imports surged to new highs in July 2013 as a result.
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