Demand for motorcycles in N-E:

New Honda product introduced

Charumini de Silva

There is much potential and a good market for the motorcycles in the Northern and Eastern provinces. During the last month there has been a growth of 300 percent in the motorcycle sales compared to the corresponding year’s January growth.

The company expects a growth of 25 percent in the motorcycle segment this year, Stafford Motor Company Ltd., Managing Director/CEO, Dr. Kalinga Kaluperuma told Daily News Business.

He said Sri Lanka is setting a new benchmark in the 125-cylinder capacity which recorded 41 percent growth by December last year.

The main reason for this is that the 125cc motorbikes caters to all types of customers like self-employed and the mercantile executive, and compared to the duties of a four-wheel vehicle, the motorbike duties are much lesser.

The motorcycle industry showed a growing trend from end last year and we see a progress in the motorcycle sales.

“Therefore, the company foresaw the high demand and opportunity in the motorbike market and that was one of the reasons to unveil its new foray into the mass segment Honda Shine,” Dr. Kaluperuma said.

The Honda Shine 125cc was launched at the Excel World on Friday.

The motorcycle does not have asbestos in its engine. The Honda Motorcycle and Scooter India (Pvt) Ltd., (HMSI) is particular about the emissions and the company will introduce the Euro IV emission standard by March, which the HMSI is currently applying the Euro III.

Dr. Kaluperuma said due to the high taxation of vehicle imports the company had a loss of Rs 9 million last year.

“The company is optimistic about this year. If the vehicle imports duties are reduced we could also expect a higher growth in the four-wheel segment,” he said.

Stafford Motor Company, is the sole distributor for Honda products in Sri Lanka.