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Is The Vehicle Market Crashing In Sri Lanka?

MoneyMaker

By MoneyMaker
in General Automotive

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MoneyMaker Newbie

MoneyMaker

Posted
Posted

Stock Market Already crashed will the Vehicle market follow?

Ever since the tax increase I have noticed the vehicle prices/demand have been on a noticeable decline…. Banks & Finance companies have become very strict in giving out vehicle loans and people have been either selling their cars for less than market price or continue to use their existing vehicles because they cannot afford a new car…

Also one thing to take into consideration is that over the past few years we saw many cars coming into Sri Lanka and these cars were bought on either one’s savings or a lease. This has caused people to cut down on their spending due to the high cost of living and their savings which is significantly low in comparison to what it was before. Also with the permit scheme being introduced many people have blocked their monies on selected vehicles e.g. Montero Sport, Kia Sorento, BMW 5 series etc... How many people can afford to buy these permit vehciles for cash?? Only a few finance companies accept permit vehcile leases.

Even car sales are stuck with many cars as their is no demand due to high prices!!!

MORE SUPPLY OF VEHICLES+LESS DEMAND=PRICE GOING DOWN

Where are we headed???

Your thoughts??

Let’s stick to the topic & discuss the micro & macro issues around this topic.

Regards.

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MoneyMaker
MoneyMaker

Stock Market Already crashed will the Vehicle market follow? Ever since the tax increase I have noticed the vehicle prices/demand have been on a noticeable decline…. Banks & Finance companies hav

terrabytetango
terrabytetango

Please pack up your soapbox and go home.

GTAm
GTAm

You mean like a crusher? Well Komi, our population to cars ratio remains very very low compared to even Thailand let alone Japan. It's just that our infrastructure (roads and proper clean/efficient p

Crosswind Newbie

Crosswind

Posted
Posted

Seems the whole point of this topic is someone is trying to improve his permit racket.

Anyway dude, in sri lanka, the vehicle market is a paradox. Goes against the laws of economics. More prices go up, more people try to buy expensive cars. They take it as an investment, not as an expense.

And there are plenty of subprime lending organizations to sustain them.

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Sylvi Apprentice

Sylvi

Posted
Posted

MoneyMaker,

Japanese vehicle imports have come down due to price increase. Beneficiaries were importers who had large of low duty imported stocks.

Even big time importers are importing after few months only to replace to the sold stocks that also 50% of what they have sold.

Popular low cost vehicles from Japan. Exporters who had stocked for S L market have reduced their profit margins too.

Japanese small vans, (Batta) commercial vehicles, are still coming but it is difficult to compete due to the cheap C I F cost of cheap commercial vehicle manufacturing countries.

Our neighboring country imports not reduced that much can see large new stocks in their yards full.

S L manufacturers vehicles have to be in waiting list with a substantial cash deposit.

There was another vehicle assembler started in big way but he has diverted back to Japanese Hybrid vehicles and other Japanese fast selling vehicles.

I hope my post to the topic as I read plenty of negative feed back posts to the topic.

Sylvi wijesinghe.

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Watchman Newbie

Watchman

Posted
Posted (edited)

I dont think i'm bringing down any value of this thread by saying this but I must remark on XXXXX's 'queen's english'.. It's more like a verbal dhiaria the queen had after eating a spoilt egg koththu-roti..

edit: The name of a certain individual who claim's to speak the queen's English (but in reality just uses kakka-english) has been edited out as my post has been reported as a personal attach on him.

Edited by Watchman
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VVTi Newbie

VVTi

Posted
Posted

Stock Market Already crashed will the Vehicle market follow?

Ever since the tax increase I have noticed the vehicle prices/demand have been on a noticeable decline…. Banks & Finance companies have become very strict in giving out vehicle loans and people have been either selling their cars for less than market price or continue to use their existing vehicles because they cannot afford a new car…

Also one thing to take into consideration is that over the past few years we saw many cars coming into Sri Lanka and these cars were bought on either one’s savings or a lease. This has caused people to cut down on their spending due to the high cost of living and their savings which is significantly low in comparison to what it was before. Also with the permit scheme being introduced many people have blocked their monies on selected vehicles e.g. Montero Sport, Kia Sorento, BMW 5 series etc... How many people can afford to buy these permit vehciles for cash?? Only a few finance companies accept permit vehcile leases.

Even car sales are stuck with many cars as their is no demand due to high prices!!!

MORE SUPPLY OF VEHICLES+LESS DEMAND=PRICE GOING DOWN

Where are we headed???

Your thoughts??

Let’s stick to the topic & discuss the micro & macro issues around this topic.

Regards.

You are not saying anything new... even the 3 wheeler drivers and the van drivers and the Allion drivers and the new X1 drivers of SL knows this truth... and they didn't have to go to school to know this... :)

IMHO, this is a waste of time and server space.

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ramithad Newbie

ramithad

Posted
Posted

Moneymaker is a HOMO who has half the money he needs to buy a car and trying to con innocent people into thinking the market has gone down so he buy it. These are the types of fools we should try to avoid when we sell our cars.

true. i put me few cents into this. There will note be such problem as that guy postulated. number of vehicles imported into the country has significantly declined. that created vacume and there is less supply (i head only one car carrier coming to the country per month) and unregistered car prices would be remain more or less the same. but in recent months hybrid car sales increased significantly due to duty concessions.I ask the posted person to be refrain from misleading people by propaganda in your imagination and that make the way for him to achieve his hidden motives. we call this type of thing a "SARANAPALA THEORY". THERE IS A VERY FAMOUS STORY BEHIND THIS. IF ANYBODY WANTS TO KNOW, I WILL POST

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Watchman Newbie

Watchman

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Posted

true. i put me few cents into this. There will note be such problem as that guy postulated. number of vehicles imported into the country has significantly declined. that created vacume and there is less supply (i head only one car carrier coming to the country per month) and unregistered car prices would be remain more or less the same. but in recent months hybrid car sales increased significantly due to duty concessions.I ask the posted person to be refrain from misleading people by propaganda in your imagination and that make the way for him to achieve his hidden motives. we call this type of thing a "SARANAPALA THEORY". THERE IS A VERY FAMOUS STORY BEHIND THIS. IF ANYBODY WANTS TO KNOW, I WILL POST

Machang, I know 'recent' is a subjective term, but the hybrid hype has been around for more than a year now...

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chan5 Rookie

chan5

Posted
Posted

true. i put me few cents into this. There will note be such problem as that guy postulated. number of vehicles imported into the country has significantly declined. that created vacume and there is less supply (i head only one car carrier coming to the country per month) and unregistered car prices would be remain more or less the same. but in recent months hybrid car sales increased significantly due to duty concessions.I ask the posted person to be refrain from misleading people by propaganda in your imagination and that make the way for him to achieve his hidden motives. we call this type of thing a "SARANAPALA THEORY". THERE IS A VERY FAMOUS STORY BEHIND THIS. IF ANYBODY WANTS TO KNOW, I WILL POST

you from Peradeniya university right? ...

It's quite famous among university students even today.

Applies for hitching things though....

Why don't you share it bro ...

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Sampath Gunasekera Newbie

Sampath Gunasekera

Posted
Posted

true. i put me few cents into this. There will note be such problem as that guy postulated. number of vehicles imported into the country has significantly declined. that created vacume and there is less supply (i head only one car carrier coming to the country per month) and unregistered car prices would be remain more or less the same. but in recent months hybrid car sales increased significantly due to duty concessions.I ask the posted person to be refrain from misleading people by propaganda in your imagination and that make the way for him to achieve his hidden motives. we call this type of thing a "SARANAPALA THEORY". THERE IS A VERY FAMOUS STORY BEHIND THIS. IF ANYBODY WANTS TO KNOW, I WILL POST

Bro, as I heard it is not Saranapala Theory. It is "Warnapala Theory" as it based on the method of proposing to a girl ,introduced by Prof. Vishwa Warnapala in his university days (as a student). :)

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