Video: Vehicle prices going up

15 November 2012 03:28 am

The Excise Duty on all vehicles had gone up by between Rs.200,000 and Rs.500,000 in the 2013 Budget thus greatly increasing the prices of all vehicles, said Mahinda Sarathchandra the chairman of the Vehicle Importers’ Association.

Speaking to Daily Mirror, Sarathchandra said the price of a small car such as a Maruti would go up by Rs.200,000 while models like the Toyota Vitz would go up by between Rs.200,000 and 250,000,  depending on the year of manufacture.

He said the prices of vans and trucks would go up by some Rs.400,000, and the prices of vehicles weighing more than five tonnes would go up by between Rs.400,000 and Rs.500,000.

Sarathchandra said the import tax on vehicle permits for government employees had been increased by 10 to 20 percent. The import tax on racing cars like go-carts had been reduced but the import tax on luxury sports cars would remain the same, he said.

He said the prices of locally assembled vehicles would not be increased as such vehicles were exempt from Excise Duty.

Due to the increase in vehicle prices, vehicle traders will have to face difficulties and they will find it difficult to sell the vehicles that have been already imported, he said. (Chaturanga Pradeep)


► WATCH