The Sri Lanka Used Car Market Report is Segmented by Vehicle Type (Hatchbacks, Sedans, and More), Vendor Type (Organized and Unorganized), Fuel Type (Petrol, Diesel, and More), Vehicle Age (0 To 2 Years, 3 To 5 Years, and More), Price Segment (Less Than 5, 000, 5, 000 To 9, 999, and More), Sales Channel (Online and Offline), Ownership (First-Owner Resale, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Sri Lankan vehicle seat market contracted markedly to $431K in 2024, shrinking by -33.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a deep setback. As a result, consumption attained the peak level of $2.5M. From 2016 to 2024, the growth of the market failed to regain momentum.

The Sri Lankan used car market, valued at $202.13 million in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 7.80% from 2025 to 2033. This growth is fueled by several factors. Increasing urbanization and a burgeoning middle class are driving demand for personal transportation, particularly among younger demographics. The relatively high cost of new vehicles in Sri Lanka makes the used car market an attractive alternative, offering more affordable options. Furthermore, the expansion of online marketplaces such as Ikman, Riyasewana, and Carsho is enhancing market transparency and accessibility, streamlining the buying and selling process. The market is segmented by vehicle type (hatchbacks, sedans, SUVs), vendor type (organized and unorganized dealers), fuel type (petrol, diesel, electric, and others), and sales channel (online and offline). The dominance of petrol and diesel vehicles is expected to gradually diminish as electric vehicle adoption increases, albeit slowly given infrastructural limitations and cost considerations. The unorganized sector, characterized by individual sellers, still constitutes a significant portion of the market, although organized dealerships are progressively gaining traction through improved customer service and warranty offerings. The competitive landscape is characterized by a mix of established players like Ikman and Riyasewana and emerging platforms. While the online segment is growing rapidly, offline sales channels remain dominant due to the preference for physical vehicle inspection and negotiation. However, the increasing popularity of online platforms is likely to progressively bridge this gap, particularly through the use of high-quality images and detailed vehicle descriptions. Continued economic growth and improved infrastructure will further propel market expansion. Challenges include fluctuating fuel prices, import regulations affecting used vehicle availability, and the need for robust consumer protection mechanisms within the unorganized sector. Strategic investments in electric vehicle infrastructure and consumer awareness campaigns could accelerate the shift towards more sustainable and efficient transportation options within the Sri Lankan used car market. Recent developments include: April 2023: Ikman, a leading online classified used car platform in Sri Lanka, was ranked as one of the "Top 25 Most Prominent Online Brands" in the Digital Outlook Sri Lanka 2023 publication. This marks an important feat for the company as it assists in establishing its position as a trusted online brand for used vehicle purchasing and selling. Further, the company also secured first place in the 'Most Popular Websites in Sri Lanka' category, second place in the 'Most Popular Online Shopping Sites in Sri Lanka - Local' category, sixth place in the 'Most Visible Brands Online - E-Commerce Marketplace Platforms' category., August 2022: To further diversify its offerings to customers, Patpat. lk, a Sri Lanka-based online e-commerce platform, launched a Premium Ad Services feature allowing customers to promote advertisements, adding more visibility over other advertisements for five of its business verticals, namely, vehicles/used vehicles, marketplace, property, education, and leisure. The end goal of adding Premium Ad Services to Patpat. lk's search platform is to empower customers by gaining more views and responses from potential buyers for advertisements, resulting in quicker sales, which will be enabled from 3 to 30 days after publication with a fair pricing strategy.. Key drivers for this market are: Rising Adoption of Digital Technologies, Others. Potential restraints include: Rising Adoption of Digital Technologies, Others. Notable trends are: Rising Adoption of Digital Technologies Will Foster the Growth of the Target Market.

Sri Lanka: Vehicle prices, world average = 100: The latest value from 2021 is 175.05 index points, an increase from 150.75 index points in 2017. In comparison, the world average is 108.07 index points, based on data from 165 countries. Historically, the average for Sri Lanka from 2017 to 2021 is 162.9 index points. The minimum value, 150.75 index points, was reached in 2017 while the maximum of 175.05 index points was recorded in 2021.

Key information about Sri Lanka Motor Vehicle Sales: Passenger Cars

• Sri Lanka Motor Vehicle Sales: Passenger Cars was reported at 8,100.000 Unit in Dec 2019.
• This records a decrease from the previous number of 10,981.000 Unit for Dec 2018.
• Sri Lanka Motor Vehicle Sales: Passenger Cars data is updated yearly, averaging 8,000.000 Unit from Dec 2005 to 2019, with 15 observations.
• The data reached an all-time high of 26,300.000 Unit in 2016 and a record low of 2,000.000 Unit in 2010.
• Sri Lanka Motor Vehicle Sales: Passenger Cars data remains active status in CEIC and is reported by International Organization of Motor Vehicle Manufacturers.
• The data is categorized under World Trend Plus’s Association: Automobile Sector – Table RA.OICA.MVS: Motor Vehicle Sales: by Country and Type: Passenger Car (PC).

In 2024, the Sri Lankan non-propelled vehicle market was finally on the rise to reach $324K for the first time since 2021, thus ending a two-year declining trend. In general, consumption, however, showed a deep contraction. As a result, consumption attained the peak level of $5.8M. From 2019 to 2024, the growth of the market remained at a lower figure.

The Sri Lanka Used Car Market Size was valued at USD 217 Million in 2024 and is Projected to reach USD 356 Million by 2032, growing at a CAGR of 7.3% from 2026 to 2032.

Key Market Drivers:

Import Restrictions and High Vehicle Taxes: Since 2020, Sri Lanka's government has imposed limits on vehicle imports, which has considerably strengthened the second-hand automobile industry. According to the Central Bank of Sri Lanka's Annual Report 2023, car registrations fell by 44.7%, while used vehicle sales climbed by 32% over the same time. The government maintains hefty import levies ranging from 200% to 350% on new automobiles, making old cars more appealing.

The report covers various aspects including Market Size, Future Potential, and Market Share by type of OEM and by type of Vehicle.

In 2024, after two years of growth, there was significant decline in the Sri Lankan passenger car market, when its value decreased by -7.9% to $17M. Overall, consumption recorded a sharp setback. Passenger car consumption peaked at $1.5B in 2015; however, from 2016 to 2024, consumption failed to regain momentum.

Motor Vehicle Radiators Market Size Value in Sri Lanka, 2021 Discover more data with ReportLinker!

The Sri Lankan market for motor vehicles for travelling on snow or golf cars dropped dramatically to $33K in 2024, reducing by -16.2% against the previous year. In general, consumption continues to indicate a abrupt shrinkage. Snow or golf motor vehicle consumption peaked at $246K in 2015; however, from 2016 to 2024, consumption stood at a somewhat lower figure.

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The global market size of Sri Lanka Car Rentals is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Sri Lanka Car Rentals Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Sri Lanka Car Rentals industry. The key insights of the report:
1.The report provides key statistics on the market status of the Sri Lanka Car Rentals manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Sri Lanka Car Rentals industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Sri Lanka Car Rentals Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Sri Lanka Car Rentals as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Sri Lanka Car Rentals market
* Product Type I
* Product Type II
* Product Type III

For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Application I
* Application II
* Application III

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

In Global Sri Lanka Electric Car Market, Popular little crossover SUV made by Japanese automaker Mazda is called the CX-5. The worldwide automobile market, including Sri Lanka, has seen great success and recognition for it.

The Sri Lankan vehicle radio market was finally on the rise to reach $6.8K in 2024, after three years of decline. In general, consumption, however, saw a precipitous shrinkage. Vehicle radio consumption peaked at $699K in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

The Sri Lankan fire-fighting vehicle market surged to $478K in 2024, with an increase of 1,434% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption faced a deep contraction.

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The electric three-wheeler market share is expected to increase by 306 thousand units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.91%.

This electric three-wheeler market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric three-wheeler market segmentations by end user (passenger carrier and goods carrier) and geography (Europe, North America, APAC, South America, MEA). The electric three-wheeler market report also offers information on several market vendors, including Bodo Vehicle Group Co. Ltd., E-Tuk Factory BV, Goenka Electric Motor Vehicles Pvt. Ltd, Kerala Automobiles Ltd., Kinetic Green Energy & Power Solutions Ltd., LOHIA AUTO INDUSTRIES, Mahindra Electric Mobility Ltd., Omega Seiki Private Limited, Piaggio & C. Spa, and Terra Motors among others.

What will the Electric Three-Wheeler Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Electric Three-Wheeler Market Size for the Forecast Period and Other Important Statistics

Electric Three-Wheeler Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The subsidies and tax incentives on electric three-wheeler s to reduce dependency on petroleum products is notably driving the electric three-wheeler market growth, although factors such as concerns about range and performance may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric three-wheeler industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Three-Wheeler Market Driver

The subsidies and tax incentives on electric three-wheeler s to reduce dependency on petroleum products is a major factor driving the global electric three-wheeler market share growth. To deal with fuel emission and fuel consumption problems, regulatory bodies across the globe are providing various incentives and tax benefits to increase the adoption of environment-friendly vehicles. Almost all top vehicle market countries have introduced fiscal incentives and subsidies to attract manufacturers to produce more hybrid/electric vehicles locally. In addition, tax credits and rebates are attracting more local end-users to purchase EVs. This drive will push for at least 60% green vehicles on the road by 2022, which will reduce fuel emissions and reduce dependency on petroleum products. Regulatory bodies in India, China, South Korea, Indonesia, Bangladesh, and other APAC countries have been implementing vigorous programs to boost the sales of electric three-wheelers and other electric and hybrid vehicles. These programs include incentives, which could be subsidies on price, reduced taxes, financing policies, and simplifying EV registration and licensing procedures. These government activities are expected to increase buyer confidence; hence, increase the market of electric three-wheelers over the forecast period.

Key Electric Three-Wheeler Market Trend

The expansion by local manufacturers to foreign countries is another factor supporting the global electric three-wheeler market share growth. Most of the electric three-wheelers available in India, Sri Lanka, Bangladesh, and Indonesia have been assembled only in those countries, but the vehicle parts have been imported mainly from China as completely knocked down units, which has resulted in an increase in vehicle cost. OEMs in Japan and China have been expanding. Such factors are driving the market to grow significantly.

Key Electric Three-Wheeler Market Challenge

The concerns about range and performance will be a major challenge for the global electric three-wheeler market share growth during the forecast period. Electric three-wheelers are typically less powerful and have a limited travel range (60-80 km per charge) compared to conventional ICE-powered vehicles and, hence, are considered suitable only for short-distance travel. The limited travel range of these battery electric vehicles results in consumers' concerns that their vehicle's battery may run out of charge before reaching the destination and doubts about battery performance. Limited range and performance are major factors hindering the growth of the global electric three-wheeler market. Even though battery packs come with a minimum two-year warranty, the battery performance is based on several factors like the number of charge cycles, the depletion rate, charging and discharging durations, and humidity, etc. Thus, most electric three-wheeler owners are left with a question of when the battery will fail or start having higher dep

Comparing the nine selected regions regarding the electric vehicles revenue in the electric vehicles market, China is leading the ranking (***** billion U.S. dollars) and is followed by South Korea with 7.7 billion U.S. dollars. At the other end of the spectrum is Sri Lanka with 22.87 million U.S. dollars, indicating a difference of 373.6 billion U.S. dollars to China. Find more statistics on other topics: a comparison of the value share by brand in the United Arab Emirates and a comparison of countries or regions regarding the electric vehicles revenue. The Statista Market Insights cover a broad range of additional markets.

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