Sri Lankan horizontal Ikman.lk has driven into the vehicle subscription business, a domain that is traditionally popular in offline markets.
Ikman now hosts a separate section dedicated to vehicle subscriptions. The section currently lists more than 1,500 vehicles that can be rented for both short- and long-term leases.
The car subscription business became more viable in Sri Lanka after the government extended a ban on vehicles imports to overcome a payment crisis in the country. The decision is likely to widen the supply and demand gap in the country’s auto market.
Traditionally, Sri Lankans meet temporary transportation needs through car rentals from offline dealers. Online subscriptions are currently very rare in the region.
Ikman.lk is owned by Sweden-based Saltside Technologies AB. The site was founded in 2012. Its auto vertical faces competition from market leader Riyasewana.com, which saw 3.4 million visitors in October and AutoLanka.com —which saw 244,000 monthly visitors, according to SimilarWeb.