The Sri Lankan government decided to ban all vehicle imports into Sri Lanka in March 2020 to maintain dollar reserves, since then the domestic sales of brand-new vehicles have declined drastically. However, sales of used vehicles in Sri Lanka have become popular and the valuation of used vehicles has increased significantly.
The Sri Lankan motorbike market was dominated by imported motorbikes and scooters manufactured in India & Japan. In recent years Japanese brands have left space for Indian-made motorcycles. Indian-manufactured motor vehicles and scooters have taken the lead in the Sri Lankan motorbikes market. These two manufacturers are also competing in the international market with their small and medium-sized motor vehicles under 250CC.
In this article, we look at how these policy changes have affected the motorbike market, and what the motorbike ads on ikman say about it.
Which cities have the highest motorbike listings in Sri Lanka?
The most populous and busiest city in the country, Colombo, contributes 24% of the market for Ikman motorbike ads, with Gampaha coming in second with 16% of the listings. A total of 7%, 8%, and 9%, respectively, of all the motorbike-related advertisements placed in Sri Lanka, are from Kandy, Kalutara, and Kurunegala.
Top motorbikes brands in the Sri Lanka motorbike market?
European motorbikes like Aprilia, KTM, and Vespa are expensive for Sri Lankan buyers. Therefore, the majority of the motorcycle brands sold in Sri Lanka are imported from either India or Japan.
Indian brands like Bajaj (31%), TVS (11%), and Hero (10%) hold the majority of the market share. Honda and Yamaha bikes imported from Japan have taken up around 38% of the motorbike resale market in Sri Lanka.
What is the average motorbike price in Sri Lanka?
The prices of motorbikes vary by brand, country, and engine capacity. In general, used motorbike prices in Sri Lanka range from LKR 150,000 to LKR 650,000.
However, the recent shift in currency valuation and the government’s ban on imported motorbikes in Sri Lanka have significantly changed the pricing. And valuation of used motor vehicles in Sri Lanka has increased drastically.
According to data from ikman, the typical motorcycle price range in Sri Lanka is less than 200K, amounting to 25% of the ad listings.
What motorbike conditions do buyers prefer in Sri Lanka?
Until the government’s ban on imported vehicles in Sri Lanka is lifted, the demand for used motor vehicles in Sri Lanka will continue to remain the same.
However, if the ban is lifted in 2023 new brands and brand-new vehicles will surge into the Sri Lankan market and the unit sales of motorcycles are expected to reach 44.87k by 2026.
99% of the motorbike ads on ikman are for used motorbikes. New motorbike listings make up about 1% of the ad space, while reconditioned bikes are even lower.
What are the most popular motorbike types in Sri Lanka?
The motorbike market on ikman includes a vast variety of bike types. The number of motorcycles on the market is mind-boggling. Motorbike ad listings in ikman are typically purchased by men.
Then there are scooters, which are popular with the country’s both men and women. At the beginning of the economic crisis, we saw a demand spike all around the country for e-bikes, which are a wonderful alternative to gas-powered two-wheelers. Sri Lanka also has quadricycles, which are four-wheeled bikes with an engine in the back.
Motorbikes hold the top position with 68% of ads placed in ikman, scooters hold the second place with 31% of the ad space. Other types like Ebikes and Quadricycles hold below 2% in ikman for motorbikes ad in Sri Lanka
Why should you post your motorbike ad on ikman?
ikman is an island-wide choice
“Did you check ikman?”
If you are a Sri Lankan, then you probably have come across this question at least once. People all around the island know about the ikman platform. With our strong brand identity and continuous footfall, you are more like to find a suitable buyer and sell your motorbike or scooter for a fair price.
Reliable Inventory and internal verification
We have Ad Moderators who oversee each ad to ensure it meets high-quality advertisement standards. The internal verification process comes in handy for sellers because we make sure the ad has everything it needs to perform well.
With our ad filters, people can search for what they want easily. By filtering their search using motorbike brand, bike type, price range, location and condition, your buyer will easily find what they are looking for. This saves time and makes deals happen faster.