Vehicle imports roar by 215% to Rs. 117b in 2010 from Rs. 37 b in 2009
Recording a boom year for vehicle imports 2010 saw a whopping increase of 215% totalling Rs.117 billion of new conveyances on Sri Lankan roads.According to a study compiled by the Ceylon Chamber of Commerce (CCC) analysing vehicle imports to Sri Lanka the vehicle import market is experiencing rapid growth following the revision of import duty structure.
It noted that in 2010 the value of imports recorded an unprecedented
growth of 215% increasing from Rs. 37 billion in 2009 to Rs.117 billion
in 2010. India continues to dominate the Sri Lankan vehicle import
market with a share of over 50% followed by Japan accounting for 30%.
“The demand for small vehicles is robust. In terms of quantity
imported, motor cycles and auto trishaws surpass all other types of
vehicles. Each year Sri Lanka imports over 100,000 motorcycles (of
engine capacity 50 cc-250 cc),” the report said adding that in 2010 the
number of motor cycles imported showed exceptional growth of 97% and for
the first time the number imported exceeded 200,000. Sri Lanka imports
nearly 40,000 auto trishaws each year, but in 2010, the numbers grew by
194% with import of a record number of over 80,000 auto trishaws
(petrol). There is an increase in demand for diesel auto trishaws in
2010 as well, which recorded a phenomenal growth of 427%, starting of
course from a low base of over 1000 trishaws in 2009 to over 7000 in
2010.
Unsurprisingly, small passenger cars (of engine capacity less than 1000
cc) are also in big demand. The number imported in 2010 exceeded
12,000. The demand for small vehicles for the transport of goods (g.v.w.
below 5 tonnes) is also on the rise and in 2010 recorded a growth rate
of 480%. Reflecting the rapid growth in the agriculture sector, the
agriculture tractors imported in 2010 recorded a growth of 152%.
“India continues to dominate the market for small vehicles. Japan still
retains its position when it comes to vehicles with higher engine
capacity. For example Japan accounts for over 80% of the vehicle market
for passenger vehicles with an engine capacity between 1000-1500 cc.
However, South Korea has overtaken Japan in supplying passenger
vehicles with an engine capacity between 1500 cc to 2000 cc in 2010
accounting for over 60% of imports,” it said.
The publication provides a detailed breakdown of vehicle imports to Sri
Lanka by type of vehicle, the value, the number and the country of
origin for the period 2005-2010. It gives valuable insight into the
vehicle import market in Sri Lanka and will be of interest to vehicle
importers, insurance companies, leasing companies and banks.
Hybrid hype
Over 400 cars imported in 2010 at a cost of around Rs.1 billion; more new models with better technology to hit the roads with prices dropping
By Uditha Jayasinghe
Hybrids are becoming ever popular with 2010 statistics showing that
over 400 cars have been imported last year costing over a billion
rupees.
A study on vehicle imports conducted by the Ceylon Chamber of Commerce
(CCC) showed that in 2010, 406 hybrid cars were brought into the
country. This was for the engine category 1000cc-1500cc, which also had
Japan dominating with 63% and Germany trailing behind with 22%.
These vehicle imports were done at a cost of Rs.908 million. In the
engine category 2000cc-3000cc there were only 29 vehicles imported at a
cost of Rs.72 million. Here Japan emerged as a clear favourite with 97%
of people preferring Toyota. It is impossible to get the data for the
preceding years for comparison because the Customs Department only
started making the distinction between hybrids and other cars from 2010.
Posted on Wednesday, April 20, 2011 @ 02:08:14 LKT
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