Emerging countries slowly opt for sustainable cars
Auto manufacturers have shifted priorities to not only meet emission
standards, but also to keep up with government policies to improve air
quality in each country. Fuel-efficient cars have not yet caught on in
developing markets as fast as they have in Western markets but there is
a slow, apparent change of car buyers going green globally.
Carmudi, the vehicle marketplace, analyzed millions of listings on
the company's car classifieds website, and the data shows that auto
demand worldwide, including Sri Lanka is shifting towards greener rides.
Carmudi found that countries in the Middle East such as UAE and Qatar
are still in love with their SUVs. The number of eco-friendly car
listings in the country stand at 5.8% and 1.88%, but green cars are
slowly becoming a more attractive option for car buyers.
In Pakistan, green cars have also gained traction in recent years
with the number of hybrid cars listed online growing 85 percent in the
past two years, alongside a 17.48 percent slump in listings for
petrol-fuelled cars in the country. This trend goes hand in hand with
governmental policies to improve the country's air quality and cut
carbon commissions in the coming decade.
In Sri Lanka, 43.5 percent of cars listed for sale are eco-friendly
cars, and of them, 93 percent consist of hybrid cars. The hybrid car
market in Sri Lanka is monopolized by vehicles such as Honda's Insight
Hybrid and Toyota's Prius Hybrid Synergy Drive. Carmudi Sri Lanka also
saw growth in the number of electric car listings, which grew four
percent over the past 12 months.
This growth is at a much larger stage over the past few months as we
see a surge in the sale of plug-in electric vehicles such as the Nissan
Leaf and the Mitsubishi Outlander PHEV.
Despite the apparent shift towards green rides in Asia and the Middle
East, countries in Africa have yet to jump on the bandwagon. Carmudi saw
low percentages of eco-friendly cars listed for sale on the platform
from West African countries such as Senegal (0.79%), Ghana (0.55%),
Nigeria (0.37%), and Ivory Coast (0.26%). The slow adaptation can also
be seen in East and Central African countries such as Cameroon (0.97%)
and Tanzania (0.70%).
Will the emerging markets continue to grow more fond of
environment-friendly cars? Carmudi predicts that motorheads in Africa
will stick with gas-guzzling petrol-powered cars. In the Middle East,
the eco-friendly trend will pick up in the coming years as many federal
institutions across the region have begun to adopt electric or hybrid
cars while motorists in Asia will most likely switch to greener and more
economical rides in the near future.
Managing Director, Carmudi Sri Lanka, Firaz Markar said, "The Sri
Lankan consumer has always been green automotive-friendly, largely due
to the high cost of fuel and favourable regulatory terms bringing down
the cost of green vehicles. While hybrid vehicles such as the Toyota
Prius and Honda Insight started this surge, we have seen a dramatic
growth in the sales of plug-in electric vehicles in recent months."
"Exceptional upfront cost savings, lower running costs, and also
certain households moving to solar-powered energy are primary factors as
we see it. We are well-poised to bring down national fossil fuel bills
based on current automotive trends. It's great to see the acceptance of
such modern technologies within an emerging market such as ours," he