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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka new vehicle registration drops sharply in Dec 2012

Sri Lanka new vehicle registration drops sharply in Dec 2012

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s new vehicle registrations (cars, lorries, three wheelers and motor cycles) have dropped sharply to 22,108 in December 2012 from 38,459 during the same month in 2011, according Department of Motor Traffic data.

New motor car registrations were down 58.86 per cent to 1,661 in December last year from 4,038 a year earlier while three wheeler registrations dropped 35.1 per cent to 7,802 units from 12,182, motor cycles down 42.69 per cent to 12,150 from 21,201 and lorries dropped 51.98 per cent to 495 from 1,031 during the same period.

New registrations of Maruti and Suzuki, makes which mostly sell small cars were down 64 per cent in December to 267. Luxury BMW sales rose 161 per cent to 55 units.

BMWs are believed to be imported on tax-slashed permits given to senior government servants. There is an active secondary market in these permits, motor traders said.
Sri Lanka new vehicle registration drops sharply in Dec 2012 Vehicl10
http://www.sundaytimes.lk/130127/business-times/sri-lanka-new-vehicle-registration-drops-sharply-in-dec-2012-29651.html

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Despite this drop in new car sales, "motor" stock in the CSE like UML, DIMO, COLO etc are trading at 4-5 times earnings (p/e) and at a discount to their marked to market & revalued asset portfolios. low p/e means possibility of higher dividend yields. furthermore, the other components of Revenue such as Repairs, Spares, Servicing etc from the robust new car sales in 2010/2011 should keep earnings healthy and p/e's low at current prices. thus no surprise that UML MD is collecting UML shares between Rs. 90-100. Vested interests will ensure that duties & taxes will not remain high forever !

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@The Alchemist wrote: Vested interests will ensure that duties & taxes will not remain high forever !

Oh Yes, true.

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