Motor vehicle registrations in May rebound; but down YoY

28 June 2017 09:54 am - 0     - {{hitsCtrl.values.hits}}

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Vehicle registrations across most categories for May 2017 fell below levels experienced in May 2016 mainly due to new loan-to-value (LTV) ratio restrictions and higher interest rates, although registrations recorded a rebound from a slow April due to the extensive new Year holiday.
According to data compiled by JB Securities (Pvt) Ltd, a Colombo-based equity brokerage and research house, total vehicle registrations in May fell 16 percent year-on-year (YoY) to 39,387 units, but increased 17 percent 
from April.
Just 2,811 motor cars were registered, down 23 percent YoY, but up 7 percent from April. 

The brand new category recorded 981 registrations, nearly half the new car registration levels recorded a year ago.
Small cars made up 94 percent of new registrations with 303 Maruti/Suzuki units followed by Nissan Datsun with 96 units, Perodua with 95 units, Micro with 75 units and Hyundai with 70 units.
Pre-owned car registrations fell 3 percent YoY to 1,830 units in May, although increasing 5 percent from April. Toyota was the market leader with 818 units followed by Suzuki with 686 units and Honda with 265 units.
Under the premium vehicle category, 64 units were registered, falling from 81 units YoY, while increasing from 50 registrations this April. Mercedes Benz claimed 26 of the total with 16 of them brand new cars. BMW came a close second with 6 new vehicles and 18 used vehicles registered.
SUV registrations fell 37 percent YoY to 475 units, while increasing slightly from the earlier month. Honda Vezels comprised of 260 of the total.
“The majority of them are 2WD and since the vehicle has a 1.5 L it attracts a lower duty of LKR 3 million under the unit method,” JB Securities said.
Toyota claimed 110 units in the SUV market with 66 Prados and 6 Land Cruises.
“As a point of reference the fully paid duty on a 2.7 L Petrol Prado is Rs. 16.2 million and a Diesel 4.6L Toyota Land Cruiser is Rs. 32.9 million,” JB Securities added.
Hybrid registrations, while increasing 8 percent to 1,821 units in May compared to April, fell 19 percent YoY. Just 15 of the total were brand new. In hybrid cars, Suzuki was the market leader with 664 cars, most of which were WagonRs, while 539 Toyotas were registered, a majority of which were Axios.
Honda hybrid cars accounted for 265 of the total, spread almost evenly between Fit and Grace units. Hybrid SUVs accounted for 305 of the total, most of which were the Vezels.
Van registrations increased to 807 units in May, up 153 percent YoY and 16 percent from April. Only 28 vans registered were brand new.  While vans used for tourism purposes were exempted from the LTV revisions, the financing share remained at 69.4 percent.
The small Suzuki Every claimed a majority of the market share with 465 units, followed by Toyota with 166 registrations, which were mainly Hiace units.
The three-wheeler market, after being subjected to the harshest LTV bracket of 25 percent, fell 71 percent YoY to 1,665 units in May, but increased slightly from 1,452 registrations in April. The financing share fell down to 59.5 percent from the usual 90 percent.
Market leader Bajaj claimed 92.4 percent of the total registrations.
The two-wheeler market, which is not subject to LTV rules, fell 5 percent YoY to 30,917 registrations, although increasing 18 percent from April. The scooter share of the two-wheeler market jumped to 56.7 percent, which was the highest on record.
Honda increased its market share to a record high of 38 percent followed by Bajaj with 21.8 percent. Hero with a market share of 12.7 percent, TVS with 11.4 percent and Yamaha with 11.1 percent are competing heavily.  
Despite the 90 percent loan-to-value ratio, the lighter categories of commercial vehicles witnessed declines YoY, while significant increases were seen in the medium and heavy trucks and buses. (CW)

 

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