Automotive Market in Sri Lanka

The automotive market in Sri Lanka plays a crucial role in the country. It has continuously grown due to different factors, including urbanization and government support. The automotive sector was valued at USD 5.5 billion in 2020 and is expected to grow at a CAGR of 6.5% from 2021 to 2028.

Overview
The need for vehicles in Sri Lanka has been growing because of its rapid urbanization, which drives the automotive market. On the other hand, the government also prioritizes the automotive sector as a key revenue generator for the country, providing different incentives and subsidies, including tax exemptions and reduced import duties. These policies have drawn several OEM manufacturers who have decided to expand their production bases in Sri Lanka. All these factors have brought positive outcomes to the industry.

Popular Car Brands
The top five most popular car brands in Sri Lanka include:
   Toyota: A leading brand popular for having a wide range of models that suit different preferences and needs. Its most popular models in the country include Corolla, Vitz, Aqua, and Axio.
   Suzuki: It is famous for its small-budget cars in this country. Alto, Wagon, Maruti, and Swift are the most popular models.
   Honda: The Honda Vezel and Honda Fit Hybrid make them the top 10 best-selling cars in this country.
   Nissan
   Hyundai

Auto Shows in Sri Lanka
Several big auto shows are held in Sri Lanka. The most significant one is the Colombo Motor Show, the country's largest and most influential automotive event. It showcases over 300 top-notch cars and brings people in the field together, creating an excellent opportunity to keep up with trends.

The automotive industry is expected to continue its growth in the coming years. Its future is bright and promising with all the positive support. Dive into this trend and emerge together. Contact our regional distributor today, get an unmatched vinyl wrap film, and become a trend leader.