How big is the Sri Lanka Used Car Market?

The Sri Lanka Used Car Market size is expected to reach USD 202.13 million in 2024 and grow at a CAGR of 7.80% to reach USD 294.26 million by 2029. Read More

What is the current Sri Lanka Used Car Market size?

In 2024, the Sri Lanka Used Car Market size is expected to reach USD 202.13 million. Read More

Who are the key players in Sri Lanka Used Car Market?

Ikman, Riyasewana, Patpat, Autodirect and Careka are the major companies operating in the Sri Lanka Used Car Market. Read More

What years does this Sri Lanka Used Car Market cover, and what was the market size in 2023?

In 2023, the Sri Lanka Used Car Market size was estimated at USD 186.36 million. The report covers the Sri Lanka Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sri Lanka Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Sri Lanka Used Car Market Share

Statistics for the 2023 & 2024 Sri Lanka Used Car market share, created by Mordor Intelligence™ Industry Reports. Sri Lanka Used Car share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Sri Lanka Used Car Industry

The market is fragmented and competitive, with the presence of various domestic used car dealerships and online used car platforms operating across Sri Lanka. Some of the major players include Ikman, Riyasewana, Careka.lk, Autodirect.lk, Patpat.lk, AutoLanka.lk, AutoMe.lk, Automachan, OLX, SaleMe.lk, and Riyahub.lk, among others. These players compete based on various parameters such as used car prices, online presence, value-added offerings such as warranty and financing options, commissions charged, number of listings on their platform, and ready information about the performance and condition of used vehicles, among others. Various companies operating in the ecosystem are actively engaging in enhancing their brand presence to expand their business capability across Sri Lanka. For instance,

In July 2023, Ikman, a leading online classified used car platform in Sri Lanka, announced the launch of the CarsGuide informative platform to provide users with a wide range of rich content to make informed decisions and acquire essential vehicle-related knowledge and know-how. This informative platform aims to assist a vehicle owner or seller with information on current trends in the used and new car industry, along with providing a comparison tool for ease of convenience.

In December 2022, Patpat.lk, a Sri Lanka-based e-commerce platform offering buying and selling options of used vehicles, among other products, was awarded the "Online Brand of the Year - Bronze" at the 21st SLIM Brand Excellence Awards 2022 to mark its contribution in enhancing the digital experience of consumers by constantly adding new innovative features on their platform for ease of convenience.

Further, in October 2021, Patpat.lk upgraded its website services and offerings to enhance customers's convenience in the journey of online shopping. The company also introduced a financial assistance option to help consumers make informed financial decisions before buying a product such as a used vehicle. With the help of this feature, users can easily apply for vehicle leases, property loans, educational loans, personal loans, and credit cards via the platform.