gossip lanka

Sri Lanka vehicle registrations subdued in December

Sri Lanka’s vehicle registrations were subdued in December 2019, with total car registrations recording 2,057 units in December marginally up from 2,030 units in November but down from 2,669 units 12 months ago, according to a market report by JB Securities (Pvt.) Ltd.

In the overall segment Toyota is the market leader with a 64.2% share followed by Suzuki with a 15.9% share.

New cars registrations recorded 244 units in Dec down from 264 units in Nov but significantly down from 352 units 12 months ago. Suzuki recorded 92 units with a 37.7% share followed by Perodua recording 35 units with a 14.3% share. Financing share was 43.4% down from the normal monthly average of 50%.

Preowned car registrations recorded 1,813 units in Dec up from 1,766 units in Nov but down from 2,317 units 12 months ago. Toyota registrations were 1,295 units (71.4% share) – Vitz 805, Premio 204, Axio 127 distantly followed by Suzuki with 235 units (13% share) – Wagon R 90, Alto 67. Financing share was 45.7% in line with the normal monthly average.

Taxes on cars are via an excise duty based on engine capacity and a luxury tax of 60% above a value of LKR 4 mn – an illustration of the need for a rethink of the current policy is that during the month of Dec only 1 new car (Toyota Camry) and 4 preowned cars (1 Toyota Prius, 2 BMW 7 Series, 1 Mercedes E300) were registered with engine sizes greater than 1,600cc.