Sri Lanka’s vehicle sales continue lackadaisical trends
View(s):Sri Lanka’s vehicle sales continued its lackadaisical trend into February this year due to a mixture of the vehicle financing facility being reduced to 70 per cent from 90 per cent of the total value, high tariffs on vehicle imports, a depreciating rupee, surprising strength in the Yen and rising interest rates, analysts said. Motor car registrations recorded 2,897 units in February marginally up from 2,888 units a month ago and significantly down from 4,138 units 12 months ago (February 2015), Motor Traffic Department (MTD) data revealed. Brand new segment registrations were 1,066 units in February marginally up from 1,023 units the previous month but also down from 1,920 units recorded 12 months ago, Colombo-based research and stock broking house JB Securities said.
The Maruti brand recorded 523 units in February recovering from its 20-month low of 255 units recorded the previous month but still lower than 1,496 units recorded in the earlier 2015 month, it said. Tata recorded 109 units of which 62 units were Nano Twist and 33 units Indica.
1,831 units of the pre-owned car segment had been registered in February marginally down from 1,863 units a month ago and significantly down from 2,218 units in 2015 February. Toyota recorded 689 units slightly down in February from 709 units in January while Suzuki recorded 666 units in the month marginally down from 673 units in January. The finance share of purchases was 64.3 per cent recovering from 62.3 percent the previous month but still down from the high 60 per cent range in earlier months.
37 units of premium car brands were sold in February (lowest in the past 24 months), lower than 37 units the previous months and 104 units, a year ago. Eight new units of Mercedes were sold (C-class 2, E-class 2 and S-class 3) and 14 pre-owned units (C-class 5 units, E-class 3 units). BMW recorded 1 new unit (3- series 1) and 7 pre-owned units. 155 electric cars were registered in February down from 173 units the previous month but up from a mere 13 units, a year ago. SUV registrations recorded 571 units in February marginally up from 563 units the previous month and down from 818 units. Hybrid registrations recorded 2,004 units in February marginally up from 1,934 units the previous month and 2,727 units.
Van registrations recorded 364 units in February marginally up from 360 units the previous month. 3-wheeler registrations recorded 2,909 units in February down from 3,468 units in Jan and 7,794 units a year ago. Motor cycle registrations recorded 21,487 units in February marginally up from 21,397 units the previous month but down from 25,155 units in February 2015. Pickup truck registrations recorded 194 units in February down from 269 units the previous month and 518 units, a year ago.