Key Market Indicators
Sri Lankan Vehicle Registration is projected to decline to approximately 10,600 units by 2028, down from around 11,100 units in 2023. This marks an average annual decrease of 0.6%. Since 2010, the Sri Lankan market has seen a more pronounced decline, averaging a 3.2% drop each year. As of 2023, Sri Lanka ranks 93rd globally in vehicle registrations, with Laos surpassing it to reach the same number of 11,100 units. In the global rankings, Canada, China, and Austria hold the second, third, and fourth positions respectively.
