CAR OWNERSHIP: ARE WE GOING TO BE ANOTHER CUBA?

The price tag for a brand new 1200 cc car caught my eye-Rs. 9.9 million. Cool, outrageous and whopping? You can choose your adjective.

- By Gamini Akmeemana

As if offering an apology for the price, the seller says you can drive it away for a monthly payment of Rs. 76,000/=.

That sounds a lot better, but add to that income tax, servicing and fuel, and the owner will be spending Rs. 100,000 a month or more for his or her new car. There are very few people in that income bracket, and they already have good cars.

Owning a brand new car was beyond the reach of most Sri Lankans even before the two Cs-Covid and the Crash. Now it’s an impossible dream.

Forget new cars. There was a thriving reconditioned vehicle market which satisfied most Lankan car buyers since the 1980s. Now, even that is gone.

Looking at Colombo city streets, one can see cars which are ten to twenty years old, or more, running in various states of disrepair-creaking axle boots, no air conditioning, with rust, bumps and dents, overheating engines, no signals or even headlights at night.

• Owning a brand new car has been out of reach for the average Sri Lankan, even before the two Cs- COVID-19 and the crash of the economy

• One of the reasons that initiatives such as luxury bus services have failed as an alternative to cars is that most car owners prefer their own four wheels more than any alternative

• Most car owners who bought a car before COVID-19 struggle to maintain their vehicles

• Cars don't represent simply snob value. They represent efficiency and public morale.

• Even in those countries with efficient public transport, car ownership is high because people feel better, are happier, and constitute a more efficient workforce when they own cars

• Sri Lankan car ownership per capita per 1000 people is given at 157. while Russia's is 364 and China's figure is 322 and Oman's 323.

• In developed countries, car ownership ceased to be a measure of wealth long ago (unless you think of Ferraris)