Sri Lanka’s demand for hybrid vehicles during the year 2011, has risen by 1200% compared to the year 2010, despite an upward revision in taxes, says the Ceylon Chamber of Commerce.
Accordingly, the country has imported 5927 hybrid vehicles during last year, compared to just 438 vehicles imported in 2010.
A study conducted by the Chamber has identified Japan as the leading supplier of hybrid vehicles to the country during 2011, covering almost all categories except for cars with a cylinder capacity exceeding 2000 cc, where Germany is the main supplier.
“The growth momentum is likely to continue with the increase in fuel prices”, added the Chamber in a media release issued.
Overall, the demand for vehicles in 2011 in the country has been at a higher level with the import bill of vehicles and parts during the same year rising to Rs. 218 billion, a growth compared to just Rs. 117 billion spent on 2010.
The Department of Motor Traffic has registered 525,421 new vehicles during the year under review.
Meanwhile, vehicles imported to transport goods between 5 -20 tones, have also recorded a massive increase of over 1000%.
Number of such vehicles imported has increased from 4359 in 2010 to 48,384 in 2011.
The Chamber study has found that the high demand for small vehicles in Sri Lanka continuing.
It says motor cars of less than 1000 cc capacity have recorded an import growth of 222% in 2011.
CCC believes that the introduction of Nano cars would have been a major factor behind this record growth.
“The number of petrol auto trishaws imported recorded an increase of 30% and the number of vehicles imported exceeded 100,000 in 2011”, adds the Chamber.
It has also found that the demand for diesel auto trishaws is also slowly picking up although the number still remains less than 20,000.
India accounts for 99% of trishaw imports into Sri Lanka while the country also continues to be the number one supplier of vehicles and parts to Sri Lanka despite the loss of market share in 2011 to 45% in terms of value compared to 51% in 2010.
Japan has slightly made progress in Sri Lanka in 2011 accounting for 36% of the market share compared to 33% in 2010.
China at the third place has retained its market share at 5%.
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