Second hand cars a major resale item in Sri Lanka

Jan. 16, 2013 - PRLog -- Buying a new car can be a daunting process and experience.  From extensive research searching for a reliable model and an affordable price, to roaming around town visiting various sellers and dealers to even find yourself haggling with a suited salesman who smooth-talks you in to a agreement that’s more than you can afford.  This is when you wish there was an easier way; the web can be a powerful ally in this case when buying a new car.

Sri Lanka today has a large online buying and selling network with people from all corners of the country posting various items and services for sale. Vehicles of all shapes and sizes, prices and brands are one of the most popular items for sale and resale in Sri Lanka. As per stats taken from ikman.lk vehicle ads take up close to 20% of all ads posted; and judging by the sheer volume of vehicle specific advertisements and pages available in any classified page, it is safe to assume that this is one of the most popular second hand items for sale in the country.

Out of the entire vehicles category on ikman.lk, cars take up almost 40% of all vehicle ads. A search for cars over the price of Rs. 850,000 revealed more than 10,000 ads on the site; it is important to note here, that ikman.lk has been operative in Sri Lanka for no more than 6 months. There are cars from Austins, Mini Minors and VW beetles to conventional Nissan, Toyota and Suzuki models to collector’s items like a 1950’s Aston Martin 4-door saloon.

The more exclusive and antique models, targeted mainly at car enthusiasts and collectors seem to be the longest lasting and oldest ads on the site; while the more traditional models like Toyota, Nissan and Suzuki have a shorter shelf life and are sold more quickly at an average price of Rs. 4 million.

For Sri Lankan’s it seems the number one car brand is Toyota.  Nearly 40% of the cars for sale are various Toyota models ranging from the older Corolla to the latest Prius.  The majority of Toyota cars are available for sale in the Colombo & Gampaha districts followed by the Kandy district.

The second most popular car brands in the country are Nissan and Suzuki. Nissan cars can be found for a range of prices starting from Rs. 575,000 to Rs.4.5 million and above. Of the Suzuki brand the most popular models are the Suzuki Maruti and the Suzuki Swift (both car and jeep models); with more than 50% of the Suzuki ads being for these 2 models.  

Surprisingly however, Honda and Mitsubishi make up only a very small percentage of all car ads.  However, more than 50% of all ads for second hand Honda cars are for the older 1999 Civic model. Most ads for this model are of cars that have been modified to resemble racing vehicle. Which leads us to believe that this model is a much-loved Honda model among Sri Lankan youth and car racing enthusiasts.

Since it’s beginning in the later part of 2012, ikman.lk seems to be growing steadily with large amounts of new ads coming in daily. Stats reveal that the number one product for sale in Sri Lanka is electronics, however vehicles come in at second place. With this growing trend it is perhaps safe to say that in the near future, online classified sites would be the number one place for people looking to buy a new mode of transportation.

Total number of all vehicle ads – 33904

Total number of car ads – 13715

Cars above Rs. 850,000 - 10493

Toyota – 4015

Nissan – 2147

Suzuki – 1293

Honda – 811

Mitsubishi – 856

All other brands - 1371

Source: http://ikman.lk