Sri Lanka’s vehicle registrations slumped to a new low in November

December 22, 2020
Sri Lanka had 2,868 units of vehicles registered in November this year, a massive slump compared to 24,472 units registered in November last year, and a further decline from 4, 346 registrations in October, statistics revealed. According to the data compiled by JB Securities, a Colombo-based equity brokerage and research house that after total vehicle registrations reached pre-pandemic levels of 32,123 units in June driven by pent-up demand, Sri Lanka’s vehicle registrations continued to slump due to import restrictions on personal vehicle imports. According to JB securities, in November, motorcar registrations fell to a mere 119 units compared 148 units in October and 2,030 units a year ago. SUV and crossover registrations in the month recovered to 78 units compared to 70 units in October, though it was significantly down from 638 units registered a year ago. The three-wheeler registrations plunged to 13 units in October, down from 19 units in September and 995 units a year ago. However, financing share of three-wheelers rose to 46.2 percent in the month compared to 10.5 percent in October. Similarly, registration of two-wheelers recorded 1,766 units in the month significantly down from 3,128 in October and 18,540 registrations one year ago.

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