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Sri Lanka Equity Forum » Stock Market Talk » Automobile market collapses by over 40%

Automobile market collapses by over 40%

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1 Automobile market collapses by over 40% on Thu Jan 26, 2017 9:21 am

Rifanmoh


Equity Analytic
Equity Analytic
Automobile trade in Sri Lanka is facing extreme difficulties due to the recent regulations introduced by the government, the former chairman of the Ceylon Motor Traders Association (CMTA) Gihan Pilapitiya said yesterday.
“The overall showroom traffic had dropped more than 40 per cent and even most of these customers who walk in, go away without purchasing due to high pricing. In some cases certain vehicle showrooms have no customer visits at all in a day” he said.

“Last week’s leasing regulations announced by the Government for vehicles based on loan-to-value ratio, as proposed in the 2017 budget is another blow to sustainability of the trade.

“If leasing companies are ready to provide facilities and the buyer is agreeable with the settlement, there is no need for the Government intervention, to artificially regulate the trade” .
In addition to this it is also important that the decision makers figure out the cost of maintaining old vehicles and their environmental impact as well before policies are formulated.





http://www.dailymirror.lk/article/Automobile-market-collapses-by-over--122768.html

2 Re: Automobile market collapses by over 40% on Sat Jan 28, 2017 11:00 am

reyaz

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Manager - Equity Analytics
Manager - Equity Analytics
Oh, that means we are stuck with these cars until the next reduction in duties?

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