Sri Lanka vehicle registrations down in April except for Cars and SUVs
May 24, two thousand sixteen (LBO) – Sri Lanka’s vehicle registrations except for Cars, SUVs and three wheelers were down last month due to April being a holiday month, JB Securities said in a research note.
Motor car registrations recorded Three,618 units in April up from Three,326 units a month ago and significantly down from Five,116 units twelve months ago, the Securities Hard said.
Brand fresh segment registrations recorded 1,709 units in Apr significantly up from 1,186 units the previous month but significantly down from Two,926 units recorded twelve months ago. Maruti recorded 1,142 units in April significantly recovering from six hundred thirty nine units the previous month and the enormously low two hundred fifty five units in Jan but yet significantly down from Two,239 units twelve months ago. Micro recorded one hundred forty one units up from one hundred eight units the previous month and Hyundai recorded one hundred twenty five units gaining on one hundred twelve units recorded the previous month.
Preowned car registrations recorded 1,909 units in Apr marginally down from Two,140 units a month ago and also marginally down from Two,190 units twelve month ago. Toyota recorded seven hundred ninety eight units in Apr marginally down from nine hundred six units in Mar and Suzuki recorded six hundred twenty four units in the month marginally down from six hundred seventy five units the previous month. This category of vehicles has faced numerous headwinds over the last seven months and I am astonished that registrations are not lower; in August two thousand fifteen LKR 1.08 was needed to buy one Yen, one now needs LKR 1.34 which is an almost 24% increase, further the rate of excise taxes on hybrid vehicles was enhanced and the base on which taxes are charged according to the specified customs valuation has enhanced by 40-45%. Thus the taxes have enlargened by around 80% and the CIF value of vehicles in LKR have also enhanced doubling their value. Financing share was 66.3% significantly up 55.9% the previous month.
Premium brands recorded forty six units in Apr slightly lower than forty nine units the previous month and significantly lower than ninety three units twelve months ago. Mercedes recorded eight fresh units (C-class Four, E-class two and S-class Trio) and nineteen pre-owned units (C-class eight units, E-class four units, S-class two units). BMW recorded four fresh units (5-series Two, 3-series 1) and six preowned units.
Electrified cars recorded eighty five units in Apr significantly down from one hundred sixty units the previous months and one hundred fifty two units twelve months ago. Nissan Leaf accounted for eighty five of the units down from one hundred eighty five units the previous month. Records showcase two Tesla Model S’, last month also recorded two units – this puts the total on the road at around 17.
SUV registrations recorded seven hundred six units in Apr up from six hundred ten units the previous month and marginally up from seven hundred four units twelve months ago. Nissan maintained its leadership recording two hundred eighty one units (Hybrid X trail 271), Mitsubishi recorded one hundred units (Outlander hybrid 77, Montero Nineteen), Toyota recorded eighty one units (Prado 71, Harrier Five), Honda eighty one units (Vezel 76). The fresh kid on the block is the Chinese DFSK Glory three hundred thirty which has recorded one hundred units up from a mere twelve units the previous month. This is a six seater MPV with a 1.3L engine, similar to the Toyota Avanza and presently retails for around Rs Three.Two million – affordability is driving volumes. Numbers are growing month on month due to the spectacle of two hybrid models – Nissan X trail and Outlander and the DFSK glory. The local agents are not participating in the hybrid SUV trend – only fourteen of the hybrid Xtrails and two of the hybrid Outlanders were fresh thus attributable to the local agents. Another noteworthy observation is the registration of two Hummers in March.
Hybrid registrations recorded Two,253 units in Apr up from Two,328 units the previous month and Two,300 units twelve months ago. Suzuki Wagon R recorded six hundred three units down from six hundred fifty nine units but significantly up from one hundred nine units twelve months ago. Toyota cars recorded seven hundred forty eight units down from eight hundred forty one units recorded the previous month but significantly down from the record set in Sep of 1,859 units – Aqua accounted for two hundred ninety five units, Axio for two hundred eighty one units followed by Prius accounting for one hundred sixty six units. Mercedes Benz accounted for eighteen hybrid units.
Van registrations recorded two hundred ninety five units in Apr down from four hundred twenty nine units the previous month and down 68% from twelve months ago. Toyota recorded one hundred twenty two units in Apr down from one hundred fifty three units the previous month and significantly down from three hundred eighty five units twelve months ago and Suzuki recorded fifty three units down from eighty four units the previous month but significantly down from two hundred eighty five units twelve months ago. Financing share was 72.9%.
3-wheeler registrations recorded Four,151 units in Apr up from Three,978 units the previous month but significantly down from Ten,839 units 12-month ago. At the peak in Nov two thousand fifteen registrations hit 13,668 and in Feb registrations at Two,939 units was a 60-month low. A 3-wheeler presently cost LKR 600,000, the 70% LTV rule requires an upfront instalment of LKR 180,000, a sum too large for many of the poorer buyers. Bajaj claimed a segment share of 90.8%, a 24-month record followed by TVS with Five.2% share and Piaggio with Four.0%. Financing share was 86%.
2-wheeler registrations recorded 23,956 units in Apr down from 28,619 units the previous month but 27,669 units twelve months ago. Bajaj claimed a segment share of 33.3% followed by Honda with 24.6%, Hero with Nineteen.8%, TVS with 12.3% and others accounted for 10%. Honda is gaining momentum due to its attractive Dio scooter and strength of its brand and based on current trends I expect them to claim market leadership unseating Bajaj who is suffering from a lack of a scooter product in their portfolio.
Pickup truck registrations recorded two hundred thirty six units in Apr marginally up from two hundred twenty eight units the previous month but significantly down from four hundred three units twelve months ago. Tata is the market leader with 66.9% followed by Toyota with 17.8% and Mahindra with Five.5%. Mitsubishi recorded eleven units in April, as a point of reference in Jan two thousand fifteen when they procured a government contract to supply L200s they recorded two hundred twenty six units.
Mini truck (payload < one MT) registrations were seven hundred eighty eight units in Apr down from eight hundred forty units in Mar and significantly down from 1,357 units recorded twelve months ago. Tata the market leader recorded a share of 75.2%, the highest in the past twenty four months followed by Mahindra with 22.6%. Financing share remained a high 91.1%.
Lite truck (payload < two MT) registrations recorded five hundred forty one units in April up from five hundred ninety five units the previous month and five hundred four units twelve months ago. Mahindra is the market leader claiming a segment share of 68% through its Bolero Maxi Truck. Financing share was 85.4%.
Medium trucks (payload < five MT) registrations were one hundred seven units in Apr down from one hundred sixty three units the previous month and one hundred sixty seven units twelve months ago. Isuzu is the market leader with 38.3% followed by Mitsubishi with 17.8% and Tata with 21.5%. Financing share was a high 82.2%.
Strong trucks (payload > five MT) registrations were eighty one units in Apr down from one hundred thirty two units the previous month and significantly down from two hundred eighty four units twelve months ago. Ashok Leyland unseated Tata to claim segment leadership with a share of 47.5% followed by Tata with a segment share of 41.3%. Financing share was 53.8% institutional purchase.
Buses recorded one hundred forty four units in Apr down from one hundred eighty two units the previous month but up from one hundred twenty two units recorded twelve months ago. Ashok Leyland is the market leader with a share of 41.3%. Financing share was 85.7%.