75% of New Vehicles in Sri Lanka are Hybrids: Is our automobile industry turning over a new leaf?

New findings by JB Securities, as reported by the Daily Mirror, suggest that hybrid vehicles are being registered at an increasing rate. The report suggests that as many as 1942 out of 2551 registrations, a whopping 76% have been registered in July, up from nearly 1500 hybrid vehicles during the same time as June this year. The major beneficiaries are Toyota and Honda, with Mercedes and BMW lagging behind (Daily Mirror 2014).

In addition to this, electric cars also seem to be increasing in popularity as the Nissan leaf entered the Sri Lankan market last year (Sirimanna 2013) and local manufacturers are keen to capitalize on the popularity of these green vehicles by launching their own models (New electric car 2014).

So what seems to be causing this dramatic shift towards these eco vehicles? One suggestion is that young drivers are very concerned about the future, and are looking for ways to minimize their impact on global warming. The other is that green technology is ‘in’ and the general public looks at these vehicles as a more socially responsible investment due to the minimal damage it causes . Furthermore,  a study by the Dept. of Motor Traffic in 2012 revealed that registration for new hybrid vehicles was at 2500 new registrations (out of a total of nearly 400,000). Based on these facts and the progressive thinking mentality among Sri Lankans, we seem to be heading towards greener pastures as these vehicles may be here to stay.

Do you own an Eco-friendly vehicle? If so, tell us your experiences in the comments below! To learn more about protecting your green vehicle, check out our short brochure.

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Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.


Sources

Department of Motor Traffic, 2012, Statistics: New registrations of Motor Vehicles-Fuel Type. [Accessed 20th August].

Hybrids boost July vehicle registrations,  Daily Mirror, 18 August 2014. [Accessed 20th August 2014].

New electric car seen leading shift to green cars in Sri Lanka, The Sunday Times, 26 January 2014. [Accessed 20th August 2014].

Sirimanna, B, 2013, ‘All electric Nissan leaf hits Lankan roads’, The Sunday Times, 25 August. [Accessed 20th August 2014].

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