The vehicle registrations saw a sizeable slowdown in September 2018 across almost all categories including two wheelers which were down 17%. Total vehicle registrations were 43,190 in August and this amount reduced to 34,293 in September. The category leader in small cars the Suzuki Wagon R hybrid registrations were down 31% on a month on month basis in comparison to August.
“The measures by government to slowdown vehicle imports, three to months ago are finally biting which are evidenced in the registration figures,” said J. B. Securities in their monthly Sri Lanka Vehicle Registration Summery. In 2018 August there were 7,003 vehicle registrations which it dropped to 4,990 last month. Three wheel registrations dipped from 1,670 units to 1,418 while two wheeler registrations reduced from 30,042 to 23,914.
“There are yet a lot of inventory of unsold cars in vehicle yards or on the sea thus one will not see a dramatic fall in registrations in the next three to four months until it is sold.” There are noticeable volumes in premium small engine cars due to a relatively lower rate of excise duty.
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