According to media reports in Tokyo, the number of appraisals(pre-shipment inspection) for used vehicles by Japan Auto Appraisal Institute (JAAI) has been sharply increasing from the beginning of March.
JAAI commenced the pre-ship inspection in accordance with the revised criteria, from January 15, 2007, as per request of Sri Lanka Government.
And then, exporters temporary suspended the export of used vehicles to watch the course, while importers lobbied against the bill lively.
As a result, although the number of appraisals reached over 500 used vehicles in January, that figure fell to only a few in February. However ,newly opened L/C stipulate to obtain JAAI certificate, on the account of it, applications for appraisal has been sharply increasing from the beginning of March and the proceeding has been pressing JAAI. It is said that Sri Lanka government made some instructions to bansks to add certain stipulation to obtain regarding JAAI certificate on the relevant L/C.
On March 19, American Honda On Motor Co.,Inc. held a groundbreaking ceremony for the construction of Honda’s new automobile plant in Indiana, the U.S.
The New Honda Plant, to be operated by Honda Manufacturing of Indiana LLC.,(President, Yuzo Uenohara) is scheduled to go on stream in 2008 and will produce the Civic 4-door model.
Annual production capacity of the new plant is set at 200,000 vehicles. It will create 2,000 new jobs there.
Honda’s North American production is expected to increase to 1.62 million vehicles a year when the new plant starts operations.
Gulliver International Co. Ltd., the leading used car purchasing company, plans to expand its business by boosting sales at its existing chain of stores and opening about 30 more sites by 2011 that will focus mainly on sales.
The company will open its first store geared toward sales in May in the Shikoku region.
Gulliver also plans to revamp its roughly 500 existing stores to change the public image that they specialize in purchasing used cars from car owners.
As part of this strategy, it intends to more than doubleits sales personnel to around 3,200.
The company believes that handling sales will dovetail with its purchasing operations because 70% of those who sold cars to the company did so to buy another vehicle.
Sri Lanka government has decided not to allow the importation of reconditioned motor cars that have been used for more than two years.
Earlier the government allowed the cars reconditioned after three and half years of use to be imported.
The period of use for reconditioned vans will also be decreased from five years to three years. The new law will be in effect from 1st February.
The secondhad car market rapidly responded to the govt’s decision with price increases, a trader of used cars said.
