Sri Lanka’s new vehicle registrations drop by 45,000
View(s):Sri Lanka’s new vehicle registrations fell by 45,000 units last year compared to 2016, Commissioner General of Motor Traffic Department (MTD) A.H.K Jagath Chandrasiri revealed.
448,625 vehicles have been registered with the MTD in 2017, he said adding that nearly 70 per cent of them was motor cycles.
Registrations in November 2017 were lackluster except for a pick-up in small hybrid cars, with the effects of the tax changes announced in budget 2018 in November 2017 yet to take effect, JB Securities says in their latest research report.
Cars recorded 2,439 units in November up from 1,961 units in October but significantly down from 3,574 units 12 months ago.
In the brand-new segment, volumes slumped to a 24-month low of 473 units in November down from 582 units in October and 2,098 units 12 months ago.
Financing share was down to 51 per cent.
Maruti cars recorded a mere 132 units down from 751 units 12 months ago.
Financing share was a low 51 per cent, JB Securities disclosed.
Pre-owned cars recorded 1,966 units in November significantly up from 1,966 units in October and 1,476 units 12 months ago.
The exceptional growth came from Suzuki Wagon R which has a 658cc hybrid engine thus under the unit method attracts a lower level of duty. Financing share was 60.7 per cent up from the prior month levels of 50-55 per cent.
Premium cars recorded 82 units of which 55 were new and 27 preowned,in November it was lower at 62 units in October and 73 units 12 months ago.
In the SUV segment 600 units were registered in November up from 407 units in October and 477 units 12 months ago. Toyota accounted for 201 (Prado – 80, Harrier – 57, CHR (1.8L) – 25, CHR (1.2L) – 22 and Honda accounted for 277 units (Vezel – 277 units).
Both the Honda Vezel and Toyota CHR are crossover vehicles and are not true SUVs. Financing share was 48.8per cent down from around 60 per cent a year ago, presumably due to the lower LTV rate of 50 per cent.
Hybrid registrations in November were 2,049 units up from 1,405 units in October and 1,605 units 12 months ago.
Electric car registrations have slumped to 5 units in November slightly up from 3 units in October and down from 24 units 12 months ago. Twenty four months ago the figure was 242 units.
Van registrations recorded 569 units in November slightly down from 589 units in October and significantly up from a mere 100 units 12 months ago.
Volumes are being driven by micro vans with 650cc engines that account for 380 units.
3-wheeler registrations were 2,265 units in Novovember slightly up from 2,155 units and significantly down from 6,098 units 12 months ago. As a point of reference two years ago the figure was 10,494 units. The main reason for the slump is the 25 per cent LTV ceiling imposed by the Central Bank on lenders holding back credit extension Motor cycle registrations were 28,272 units in November slightly down from 28,786 units in October and down from 32,082 units 12 months ago.