United Motors Assembly Plant

[Le Sabre]

######## to launch assembly plant

The demand for brand new vehicles in the country has fallen to a very low level as a result of high levels of taxation of 300 to 400% on imported vehicles, in force during the past few years, resulting in some companies considering assembling vehicles.

The industry was further hit in the last financial year due to the slowing down of the local economy following the global economic crisis, according to Ranjit Fernando, Chairman of ######## Lanka Plc in his review of the un-audited accounts of the Goup for the six months period ending September 30, 2009. The adverse impact on demand was further exacerbated during the first six months of this financial year as a consequence of a steep appreciation in the value of the yen, he added.

######## total sales of brand new vehicles during this period was 4,438 vehicles, down sharply by 68 % from 15,499 vehicles in the 6-month during period last year. He said the first quarter of the financial year was marked by high interest rates charged on the company borrowings, further compounded by curtailed lending by financial institutions to the automobile sector.

Representations were made to the taxation commission by the industry and it is hoped that a downward revision will be made at the earliest opportunity. In order to take advantage of the lower duty structure that applies to locally assembled vehicles, ######## intends commencing the assembly of a well reputed Chinese brand of vehicles shortly, he added.

Many small car sales centres are experiencing difficulties although the registered card sales recorded a slight increase, according to the General Secretary of the Automobile Dealers Association, Faiz Zahir. He said at least 20 car sales centres have been shut down as they didn’t have sales in the past few months.

Edited November 28, 2009 by Le Sabre

[miniace]

Guess "##########" represents U N I T E D- M O T O R S ?

MINIACE

[miniace]

http://www.thebottomline.lk/2009/11/18/news32.html

MINIACE

[mistaken_ID]

Its simply a land like no other! The so called politicians get the transferable permit and the doctors, custom officers, govt servents get a non transferable permit evry 5 years!

People like u and me who are mostly into private sector has to pay 300% to 400% if we are to get a brand new vehicle where the permit holders pay some 40%!

What i feel is the tax lost to the govt from the permit cars are covered by the other brand new imports!

< no offense for the permit holders in the forum >

STILL IM HAPPY COZ DOMESTIC VERSION IS THE BEST CAR, SUV TO OWN COZ THE BRAND NEW EXPORT MODEL DOESNT HAVE CERTAIN FEATURE!

[samishka]

http://www.thebottomline.lk/2009/11/18/news32.html

MINIACE

Assembling the old-gen-Isuzu based JMC pick-ups seems to be a good idea. (like BAW Universal Rino by IWS)

But why "Zotye" instead of "Perodua" ?

Is that because the recently signed Trade / Investment Pacts between Sri Lankan and Chinese Governments ?

[Le Sabre]

Assembling the old-gen-Isuzu based JMC pick-ups seems to be a good idea. (like BAW Universal Rino by IWS)

But why "Zotye" instead of "Perodua" ?

Is that because the recently signed Trade / Investment Pacts between Sri Lankan and Chinese Governments ?

The article said that they were going to assemble a chinese designed small car.

Not sure what the exact models will be.

Anyone has any info.

[Le Sabre]

So srilanka will have 3 assembly plants with UML coming into the market.

Hope more cars will be assembled than trucks as iam sure more people will go for cars for personal use.

[Supra_Natural]

The article said that they were going to assemble a chinese designed small car.

Not sure what the exact models will be.

Anyone has any info.

They are already selling that ridiculous "Nomad" thing aren't they? It probably will be that, and maybe some other cheap chinese monstrosity.... Entirely the wrong way to go about it honestly. Mitsubishi, Toyota, honda hell even BMW and Merc have CKD versions of their models, would be MUCH better to try and do something like that than expose our car buyers to chinese crap that would fold up like a rice paper fan if it crashed into ANYTHING at all!

[samishka]

They are already selling that ridiculous "Nomad" thing aren't they?

The funny thing was the tagline in their first set of newspaper ads (in 2007)

"Your favourite SUV has become more affordable".

And they priced it at Rs. 2.7 Million.

Edited November 30, 2009 by samishka