Vehicle prices to increase: VIASL

18 December 2019 04:02 am - 3 - {{hitsCtrl.values.hits}}

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The prices of vehicles such as cars, sports utility vehicles (SUVs) and jeeps will increase between Rs.75,000 and Rs.1 million because of the imposition of the new luxury tax, Vehicle Importers Association of Sri Lanka (VIASL) President Ranjan Pieris said.

He said the new luxury tax came into effect from November 1 for all vehicles which exceeded the selling price of Rs.3.5 million and added that the price increase would affect vehicles such as Toyota CHR, Audi Q2 and Honda CR-V.

Mr. Pieris said the rising value of USD, GBP and the JPY was bound the increase import prices.

“Any further pressure on the USD will make imports even more expensive,” he said and added that the VIASL had decided not to request the new government for duty concessions.

As explained by several government officials foreign currency outflow resulting from the increase in the total import volume could be detrimental to the local economy.

However, Mr. Pieris said the vehicles remaining in the showrooms would be sold at previous prices because of the festive season. (Chaturanga Samarawickrama)

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Comments - 3

Sambo Wednesday, 18 December 2019 08:16 AM

There are too many vehicles in this country and lawless driving. Some people have a car but cannot drive properly and break the rules from dawn to dusk. Please stop the import of the tuk tuk as its a real menace to the public.

SUJITH Mahawatta Wednesday, 18 December 2019 10:49 AM

under this circumstance its time has come to regulate vehicle importation and usage withing the country other wise everything would be spoil

Ananda Wednesday, 18 December 2019 02:51 PM

Yay, a dream come true! Now please do the following too for existing owners of these non essential vehicles such as fancy cars and SUVs; 1. Increase revenue licence to prohibitive levels. 2. Have a discrimatoy fuel pricing structure to charge fuel prices at prohibitive levels from such owners. Why; 1. To reduce fuel bill and save on foreign exchange. 2. To stop these rich idiots form clogging the road and polluting the environment. 3. To stop these idiots from wasting the most precious resource by increasing traffic which is time!

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Vehicle prices to increase: VIASL

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