Sri Lanka’s automobile industry badly hit earlier by the global financial crisis and high local tax regime is blossoming once again with a significant increase in sales of brand new and reconditioned motor vehicles, after the Treasury’s slashing of excise duty by 50%, a top official of a leading motor car company said.
Speaking to Business Times on the sidelines of the unveiling ceremony of all new Mitsubishi 2011 Montero Sport in Colombo, on Tuesday the Chief Executive Officer and Executive Director of United Motors Lanka PLC (UML) Chanka Yatawara said that their Sport Utility Vehicle (SUV) sales were up by over 100% to 15 per month during the past six months, from two vehicles per month, a few years ago. He revealed that they have sold 90 vehicles during this period. Almost all vehicle importers in the island have good business at present, he said, adding that the car prices have come down by at least Rs.300, 000 to Rs.1 million. The price of SUVs has dropped up to Rs.4 million while double cabs have come down by Rs.1.5 to 2 million, roughly, he said.
Taking advantage of the slashing of excise duty and with the aim of bringing in a combination of power and class onto Sri Lankan roads, United Motors recently unveiled the new Mitsubishi 2011 Montero Sport. The new Montero Sport which promises unmatched power and a sportier driving experience has proven to be an above-average performer in the burgeoning and highly competitive SUV segment, he said. He noted that the vehicle has been improved in terms of technology and performance features.
Mr. Yatawara revealed that Unimo Enterprises Limited (UEL) a fully owned subsidiary of United Motors Lanka PLC recently received the licence to assemble Zotye SUV´s in Sri Lanka and the production process is now underway. The company is now marketing the locally assembled Zotye Extreme jeep, he said. The Zotye Extreme is now imported to Sri Lanka in Semi Knocked Down (SKD) form and assembled incorporating more than 30 % local value addition, as per the requirements set out by the Ministry of Industries. Body trimmings, paint, tyres, battery, seats, radiator and badges are all sourced locally from well reputed suppliers who ensure export quality standard.
UML Chairman Ranjith Fernando explained that with the reputation UML has acquired in its over six decades of existence, the company has continued to deliver on its promise of superior customer service which includes a diverse range of services. |
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