* Automobile market sees strong growth
Sri Lanka continues to see a strong ‘new vehicle registration growth’ mainly in motor car, three wheeler and motor cycle categories while recording 26%, 5% and 12% MoM increase respectively, LOLC Securities Research stated in its Motor Sector Report for June.
314,155 new vehicle registrations were recorded during Jan-June 2015, already capturing 73% new registrations accounted for year 2014. Registration of motor cars saw a mixed fluctuation over last six months while recording 8469 new registrations in June. Hybrid motor cars saw a 52% CAGR in new vehicle registrations in last four years proving the growing demand for the same over petrol cars.
However with import duty changes through interim budget 2015 coupled with decline in fuel prices, hybrid vehicle registration witnessed a decline since Feb 2015 while petrol car registrations demonstrated a considerable growth over last six months due to increase in demand for small cars (<1000 cc). Sector also witnessed a growth in Indian vehicles relative to Japanese brands in the recent past due to affordability. There was a strong rebound of private sector credit in 2015 with low interest and inflation rates, enabling people to utilize more credit products (loan and leasing facilities) for vehicle purchases over last six months.
Sri Lanka continues to see a strong ‘new vehicle registration growth’ mainly in motor car, three wheeler and motor cycle categories while recording 26%, 5% and 12% MoM increase respectively, LOLC Securities Research stated in its Motor Sector Report for June.
314,155 new vehicle registrations were recorded during Jan-June 2015, already capturing 73% new registrations accounted for year 2014. Registration of motor cars saw a mixed fluctuation over last six months while recording 8469 new registrations in June. Hybrid motor cars saw a 52% CAGR in new vehicle registrations in last four years proving the growing demand for the same over petrol cars.
However with import duty changes through interim budget 2015 coupled with decline in fuel prices, hybrid vehicle registration witnessed a decline since Feb 2015 while petrol car registrations demonstrated a considerable growth over last six months due to increase in demand for small cars (<1000 cc). Sector also witnessed a growth in Indian vehicles relative to Japanese brands in the recent past due to affordability. There was a strong rebound of private sector credit in 2015 with low interest and inflation rates, enabling people to utilize more credit products (loan and leasing facilities) for vehicle purchases over last six months.
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