Vehicle registration in agriculture sector on the rise
Sri Lanka’s total vehicle registrations recorded 4,407 units in December 2020 up from 2,868 units in November, a Colombo based JB Securities stated its monthly vehicle registrations review.
Industry sources confirm to JB Securities that this is not an indication of an uptick in sales but due to the shifting of registrations from the month of November to December.
The Registrar of Motor Vehicles was closed during a period in November on account of social distancing measures taken due to Covid-19.
Large tractors have recorded 862 registrations in December significantly up from 285 units in November and 228 units 12 months ago.
There are no import restrictions on agriculture equipment and it’s a seasonal product which explains the large jump in volumes.
Locally assembled Zotye car (Ideal Motors) recorded 48 units and in the SUV category DFSK (United Motors) recorded 55 units.
JB Securities expect the vehicle registrations further fall to virtually nil in January.