Vehicle registrations slip in November

PENT-UP DEMAND WANES WHILE CENTRAL BANK CUTS FINANCING SHARE

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The number of vehicles registered with the Motor Vehicles Department in November slid to 43,810 units, from 48,081 units in October.

This is as the sharply higher demand seen during the initial months of reopening vehicle imports is fizzling while people will have to put up higher upfront payments for the vehicles they now want to purchase from November onwards.

With the November data, Sri Lanka has seen 311,592 vehicles being registered in the first 11 months. This is the most in the history of the country, a vehicle registration summary compiled by JB Securities said.

Out of this of course were the two-wheelers, which declined to 29,961 units in November, from 32,890 units in October.