FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Sell EXPO Buy EDEN sentiment changed to Exit EXPO Enter EDEN
by Bakkabwoi Today at 12:44 am

» Top Foreign Trading today
by D.G.Dayaratne Yesterday at 11:29 pm

» Maharaja after long time
by Maharaja Yesterday at 10:20 pm

» Try to Avoid Getting Sucked into Any Panic Modes While Looking for Opportunities. Stock market for beginners
by Asoka Samarakone Yesterday at 9:39 pm

» Evergrande agrees deal to avoid default on key bond: Company
by RajapaksaDON Yesterday at 8:15 pm

» Top crossings today
by SAGA Yesterday at 7:27 pm

» LOFC AND CLC Target Price??
by Rational Investor Yesterday at 6:35 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Equity Win Yesterday at 10:47 am

» CABO -- “ The Investment Company ” under Land & Building Sector
by samaritan Yesterday at 10:45 am

» LOFC lofc
by stockchaser Yesterday at 9:52 am

» TOKYO CEMENT COMPANY (LANKA) PLC
by ADVENTUS Yesterday at 12:14 am

» DIPPED PRODUCTS PLC (DIPD.N0000)
by ADVENTUS Yesterday at 12:11 am

» BROWNS INVESTMENTS PLC (BIL.N0000)
by stockchaser Tue Sep 21, 2021 3:49 pm

» GUYS LOOK IN TO JKH / JKL NOW
by Wickyz Tue Sep 21, 2021 10:54 am

» The stock market can be a great place to make money; it can also be a great place to lose money. Stock market for beginners
by reyaz Tue Sep 21, 2021 7:37 am

» LOFC LOFC LOFC
by stockchaser Mon Sep 20, 2021 7:49 pm

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by LHW Sun Sep 19, 2021 10:14 pm

» KOTAGALA PLANTATION
by reyaz Sun Sep 19, 2021 3:33 pm

» What is "Introductions" in Upcoming listing in CSE?
by Nandun Sat Sep 18, 2021 1:46 pm

» Glove stocks fall after Top Glove posts weaker 4Q results
by ResearchMan Sat Sep 18, 2021 1:37 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka vehicle registrations halve in June

Sri Lanka vehicle registrations halve in June

Go down  Message [Page 1 of 1]

Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sept 11, 2012 (LBO) - Sri Lanka's new vehicle registrations have plunged 48 percent in June 2012 from a year earlier in the wake of higher taxes and currency depreciation with three wheelers falling the most, official data showed.

Three wheeler registrations in the month of June fell 68.4 percent to 4,300 from 13,753, motor cars fell 56.4 percent to 2,208 from 5,069 and motor cycles fell motor cycles fell 46.3 percent to 12,181 from 22,690, a year earlier, central bank data showed.
Sri Lanka jacked up vehicle taxes in the second quarter of 2011 after the island's rupee peg came under pressure when rulers manipulated energy prices with commercial bank credit and printed money to keep interest rates down as loan demand rocketed.

Amusingly authorities blamed car imports for the fall in the rupee and not the credit funded energy subsidies. But in February 2012 energy prices and interest rates were jacked up and the rupee allowed to fall in line with the underlying monetary policy.

Taxes were raised for ordinary citizens while the island's ruling class of elected politicians get tax free cars and state workers get tax slashed cars. In the past authorities have jacked up taxes on electronic goods claiming they were 'luxuries' for citizens.

Analysts point out that raising interest rates (and energy prices) to go up would have curbed demand, allowing citizens to make the choices which give them the maximum benefits with their own hard earned money without the rulers or bureaucrats interfering in their decisions.

The energy and interest rate manipulation eventually forced the rupee to fall from 110 to 132 to the US dollar.

In the month of July bus imports fell 22.4 percent to 197, dual purpose vehicles fell 26.5 percent to 812, goods transport vehicles including lorries fell 12.9 percent to 944.

In the six months to June total car registrations were down 5.7 percent to 234,388. Motor car registrations were down 26.8 percent to 21,886, motor cycles were down 4.4 percent to 117,689, and three wheelers were down 26.8 percent to 50,811.
http://www.lbo.lk/fullstory.php?nid=642587420

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum