🚨 RMV Delays Hamper Vehicle Market Recovery

Administrative and system inefficiencies at the Department of Motor Traffic (DMT) are causing significant backlogs in vehicle registrations, threatening the stability of the automotive sector. • Operational Bottlenecks: The standard "one-day" registration service currently takes 6 to 7 working days. While registration books are printed, issuance remains pending due to RMV system breakdowns and slow processing. • Market Performance: Despite the administrative delays, the market is seeing a cooling trend following the February 2025 import reopening. Total registrations fell to 51,682 units in February 2026 (down from 55,365 in Jan). Motor car registrations dipped to 4,163 units from 4,648 the previous month. • Import Data: Spending on vehicle imports is moderating according to CBSL data: Feb 2026: US$ 194 Mn (down from US$ 224 Mn in Jan). Cumulative (Jan-Feb 2026): US$ 418 Mn. Personal vehicle imports saw a sharp 32% MoM correction. • Sector Trends: Demand remains concentrated in small-engine vehicles and SUVs/crossovers. Industry stakeholders (VIAL) have urged the Transport Ministry to intervene to prevent administrative hurdles from undermining the sector’s transition to stable growth. 📈