Reconditioned vehicle registrations outperform brand new: Analysis

17 July 2013 03:05 am - 0 - {{hitsCtrl.values.hits}}

A A A

Registrations of reconditioned vehicles in Sri Lanka continued to recover parallel to a decline in brand new registrations during the month of June.

According information analyzed by equities research firm, J.B. Securities, registration of reconditioned vehicles increased by a drastic 143 percent Yearon-Year (YoY), and 5.2 percent Month-on-Month (MoM) to 1,327.

Japanese made Toyota and Honda captured the majority of market share in the pre-owned segment with 976 and 325 registrations during the month respectively.

In the brand-new segment, registrations declined by 37 per cent YoY to just 556 registrations in June.

Maruti/Suzuki achieved a narrow lead in the brand-new segment with 166 registrations, followed by Micro and Perodua with 162 and 94 registrations respectively.

Meanwhile, duty-free permits continued to fuel registrations in the premium brand segment which saw 88 registrations in June, as compared with 41 in the previous year and this year’s peak of 134 registrations in January.

Brand new registrations under the BMW brand dipped to 32 from 52 in April and 84 in January however the segment’s short fall was balanced with the registration of 5 Jaguars and 12 Mercedes Benz cars.

Permit-fueled growth was also recorded across the SUV segment which posted 380 registrations during the month reflecting a 14 percent MoM increase but down a sharp 44 per cent YoY. Notably, registrations under SUV market leader, Mitsubishi Montero, declined from 137 in May to 105 last month.

Toyota recorded 72 registrations under its SUV category while Kia posted 34 registrations. Registrations under the Hybrid vehicle category, a segment promoted through significant tax concessions, continued to grow, reaching an all-time high of 724 registrations during the month against a pervious 669 registrations in June.

Toyota currently holds the market leadership position in the Hybrid category with 403 registrations followed by Honda with 320 registrations.

Meanwhile registrations of three-wheelers dipped from 6,799 in May to 6,525 last month as compared with this year’s current high of 8,178 registrations last January and a peak of 12,085 in January 2012.

Total vehicle registrations across all segments during the month touched 24,401 as compared with 23,917 registrations in the previous year and down from April’s high of 28,922 registrations.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reconditioned vehicle registrations outperform brand new: Analysis

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

SL on alert on possible genocide allegations by Canada

Gota fires back at Cardinal, rebuts allegations

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

New Visa procedure implemented

Sri Lankan among NASA’s new crew for next simulated Mars journey

Street food vendor arrested for verbally harassing foreigner

MIRROR CRICKET

Is Chamari Athapaththu Sri Lanka’s greatest cricketer ever?

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

TODAY'S HEADLINES

No footboard riding allowed, no liability for accidents: Railways Department

Six patients claim Rs.600 million from Keheliya and others for permanent loss of sight

SLPP, UNP initiates action for forming broad alliance

Here is the way!

Pakistan lose key players for last two T20Is against New Zealand

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident