Wed, 19 Jan 2022 Today's Paper

Vehicle prices to increase by 10 - 15 % next year: Importers

22 November 2018 09:04 am - 14     - {{hitsCtrl.values.hits}}

A A A

The prices of vehicles would increase next year by 10 to 15 percent, the Vehicle Importers Association said.

“The present vehicle sales have come down by 60 percent due to unpredictable market bahaviour in the country,” Vehicle Importers Association Lanka (VIAL) President Indika Sampath Merenchige said.

Speaking to the Daily Mirror due to the significant depreciation of the Sri Lankan Rupee against the US Dollar and the unstable political situation, the vehicle prices would increase in at a higher rate, he said.

“We cannot make predictions but with the Rupee depreciation vehicle prices cannot be controlled by whoever comes to office,” he said.

Meanwhile, the Ceylon Motor Trader Association (CMTA) President Sheran Fernando said due to the uncertainty of the budget, they were facing significant problem of how to proceed in terms of the commitments they had given to their principals.

The CMTA mainly consists of brand new vehicles, while the VIAL imports mostly reconditioned vehicles.

He said their membership with the vehicle manufacturers was facing difficulty due to the uncertainty prevalent at the present time.

“Initially the 200 percent of cash deposit on Letter of Credit and the significant depreciation of the rupee caused a huge downfall of the vehicle imports,” Fernando said.

VIASL Chairman Ranjan Peiris said the total vehicle sales in the country had come down by 60 percent.

“People seem to be hoping the new Government’s moves would bring vehicle prices,” he said.

“We were used to import vehicles from Japan, UK, Australia and Thailand. Depending on the exchange rate fluctuation the vehicle prices would be increased,” he said. (Chaturanga Samarawickrama)

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 14

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.
  • Unchikun Thursday, 22 November 2018 09:23 AM

    This is good news. Never mind the depreciation of the rupee. Sri Lanka roads do not have the capacity for more cars. Now is the time for the government and transport companies to introduce a proper public transport system. Unfortunately the light rail system funded by Japan is gone.

    Dee Thursday, 22 November 2018 09:28 AM

    People are hoping that the 'new government' will reduce taxes on vehicles! How stupid can we Sri Lankans get?

    ConcernedCitizen Thursday, 22 November 2018 09:29 AM

    Yes ! yes ! You are talking as this is the burning issue in the country. People are struggling to put food on the table and you guys are talking nonsense. Currently do you even know "Government" refers to which entity?

    Karu Thursday, 22 November 2018 12:42 PM

    Whichever Government liquor shops are jam packed. That's the other side of the coin, regrettably.

    concern Thursday, 22 November 2018 07:50 PM

    Very true.We people have got our priorities mixed up. You are not going to die if you are unable to get a vehicle but may happen if you are unable to have you meals.Wake up !!.

    Lord Wolfstein Thursday, 22 November 2018 09:32 AM

    However the prices of vehicles will increase, no problem for the MPs

    Shas Thursday, 22 November 2018 09:44 AM

    Another success story of MR

    Nimal Thursday, 22 November 2018 09:51 AM

    Sales down by 60% and they somehow want to sell the 2018 stock or they will lose on the models curruntly have, so atleast scaring the people they want to sell vehicles, government is considering to reduce the tax, people better to hold on

    Danuka Thursday, 22 November 2018 09:54 AM

    Nothing else they want to sell the 2018 stock before year end, at the backdoor they are pressing government to reduce tax

    Lalantha Thursday, 22 November 2018 09:55 AM

    Wonder of asia when demand reduce the price increase

    Gihan Thursday, 22 November 2018 10:06 AM

    These guys appear to want to have their cake and eat it too.There are thousands of unsold vehicles sitting on dealer forecourts, in excess of 500 vehicles a week up for auction from finance repossessions. If anything there are too many vehicles and no buyers left to take them. The only logical solution would be for prices to come down and a few dealers and importers put out of business to crystalise this pear shaped market.So, get real guys and stop bleating on about prices going up to panic people in order to shift more metal!

    buwa Thursday, 22 November 2018 10:17 AM

    I thought MR wants to reduce vehicle prices?Dan sathutuda......?

    Saman Thursday, 22 November 2018 10:26 AM

    With the depreciation of the rupee, of course the imports go up. Solution is to build cars in SL.

    UPALI Thursday, 22 November 2018 05:48 PM

    Stop vehicles except commercial use for a year. Get rid of the existing stock for what ever the price. Then introduce it back with more cautions.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.