Sept. 22, 2013 (LBT) - Motor vehicle registrations were down marginally by 1.5%YoY in Aug13 to 26,899 having shown encouraging growth in the past two months.
The decline is led by three wheelers and vans which declined 16.6%YoY and 52.7%YoY. Three wheelers which showed impressive growth in previous months marked a second month of decline.
However reconditioned cars continued to be a popular category growing a staggering 252.9%YoY to 1800 while premium brand vehicles and SUVs also showed some steady growth during the month.
Significant declines some categories of trucks such as Pick Up Trucks (62.5%YoY) and Medium Trucks (47.2%YoY) have been offset by a 33.1% increase in Lite Trucks.
The increase is possibly due to the government regulations early in Aug which reduced the taxes applicable on such vehicles.