Audio: Hybrid car prices will go up due to tax revision

31 January 2015 03:17 am

Vehicle Importers Association Chairman Mahinda Sarathchandra said yesterday that prices of vehicles below 1000 cc would come down only by Rs. 25, 000 in the wake of the 15% tax reduction announced in Thursday’s mini budget while all hybrid cars would go up by as much as Rupees one million.


Mr. Sarathchandra said the 172.5% custom duty which had been imposed on cars below 1000 CC was reduced to 155.25% which would result in a decrease of Rs. 25, 000 for cars below 1000 cc.


He said however prices of hybrid cars would go up by a huge amount due to the new tax system.

Mr. Sarathchandra said the price of a Prius car would go up by Rs. 9 75, 000, Axio by Rs. 7 25, 000 and Honda Fit by Rs. 700, 000 because of the new taxation.


He said the tax revisal would have an impact on vehicle importers.(Ajith Siriwardana)

AUDIO