Sri Lanka’s luxury vehicle segment showed resilience in June, with premium vehicle registrations recording growth despite an overall moderation in total vehicle registrations, according to J.B. Securities.
Total vehicle registrations declined to 58,151 units in June from 62,776 units in May, mainly due to lower registrations of two-wheelers and three-wheelers. However, the luxury vehicle segment continued to attract demand, supported by buyers with higher purchasing power.
Brand-new premium vehicle registrations increased slightly to 26 units during June, while pre-owned premium vehicle registrations stood at 121 units. Mercedes-Benz remained the leading premium marque, recording 20 new and 39 pre-owned registrations during the month.
The month also saw several notable luxury vehicle registrations, including a Rolls-Royce Phantom EWB, a Bentley Bentayga and a Ferrari 296 GTB, a mid-engine plug-in hybrid supercar.
The Mercedes-Benz registrations included the C-Class (11), E-Class (14), G-Class (4), GLA (9), GLE (3) and GLB (11), reflecting continued demand for high-end luxury SUVs and executive vehicles.
Audi recorded 43 registrations across new and pre-owned vehicles, comprising the e-tron (3), A1 (4), A3 (26) and Q3 (8). BMW recorded 27 registrations, including five units of the 5-Series and two units of the 2-Series, while Lexus registered 12 units, led by the LX (3) and LBX (8).
Land Rover variants recorded 78 registrations in June, up from 61 units in the previous month. Brand-new units accounted for 14 registrations, while 64 were pre-owned.
The Defender remained the most popular model with 58 units, followed by Range Rover with 12 units and Discovery with eight units.
“Buyers of high-end vehicles continue to make a significant contribution to government revenue. With tax rates on many of these vehicles exceeding 200% of their import value, their purchases generate substantial fiscal receipts, helping to strengthen the country's public finances,” J.B. Securities Managing Director Murtaza Jafferjee said.
Meanwhile, SUVs and crossovers remained the strongest-performing passenger vehicle segment, with registrations increasing to 5,933 units in June from 5,511 units in May.
The growth in SUVs was driven by brand-new registrations, which rose to 2,580 units from 1,929 units, while pre-owned registrations eased to 3,353 units from 3,582 units in the previous month.
Toyota remained the market leader with 1,965 registrations, led by the Raize (1,448), Urban Cruiser (309), Yaris Cross (97) and Land Cruiser family (70), including the LC150 (13), LC250 (47) and LC300 (10).
Honda followed with 1,209 registrations, almost entirely represented by the Vezel (1,175), while Suzuki recorded 599 units, driven mainly by the Fronx.
BYD continued its strong momentum, increasing registrations to 516 units from 368 units in May.
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