Vehicle prices set to increase after import resumptions next year: Importers

15 March 2024 10:52 am - 22 - {{hitsCtrl.values.hits}}

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Colombo, March 15 (Daily Mirror) - Local vehicle importers claimed that the current market prices of vehicles would increase after the proposed resumption of vehicle imports from next year due to the chang in the duty structure.

They said the government had implemented a significant change in the duty structure in January, resulting in a substantial increase in the marginal cost of importing vehicles.

The importers also claimed that vehicles would be imported under huge restrictions.

According to the survey conducted by the association, the existing local market prices of vehicles would increase after the import of new vehicles.

Addressing a gathering organized by the United Youth Union, titled "Future of the Youth," held this week at Taprobane Entertainment, President Ranil Wickremesinghe said that he hopes to gradually relax the import of private vehicles starting next year.

The President also said that under the balance of payments, the government has allowed the import of everything other than vehicles.

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Comments - 22

Dravid Ratnam Friday, 15 March 2024 11:04 AM

With the news of relaxing imports, fearing current vehicle prices will go down, these guys come up with this alibi, who trust these people anyway

Car Dealer Friday, 15 March 2024 11:42 AM

You have to provide calculations ( not just trying price gouging)

Jayantha Friday, 15 March 2024 11:54 AM

Vehicles wil not be imported anytime soon. Probably it will take at least 5 years. At the same time government should focus on developing public transport so that people will not need vehicles that much. Also focus on importing quality parts for vehicles in order to keep local vehicles durable.

Concerned Citizen Friday, 15 March 2024 12:10 PM

Bunch of LIARS !! This vehicle mafia has inflated the vehicle prices by 300% and now want to hold on to the prices knowing very well that the prices will go back to Pre-COVID levels after the vehicle imports are allowed....

Trehan Munasinghe Friday, 15 March 2024 12:57 PM

When has Sri Lankan's ever got a car / vehicle at a reasonable price.... ? How to change this reality Vehicle importers and others also contribute to this fact, and the Govt policy of denying people their right to own a vehicle while public servants and politicians enjoy luxury vehicles at our expense.

Citizen Friday, 15 March 2024 01:34 PM

Good. A vehicle only for the very rich. What a country.

akeel Friday, 15 March 2024 01:40 PM

does any 1 have the link for the duty structure chnage sheet. so we can get a idea weather it will increase or go down. if any 1 have that link please show it.

udaya Friday, 15 March 2024 10:12 PM

its pure lies. also this is shit journalism. this bugger must have gotten paid to write these nonsense

Jehan Friday, 15 March 2024 01:47 PM

Nice carrot..

Ahmed Friday, 15 March 2024 02:43 PM

i feel sorry for the youth of this country. driving a car will be a dream forever

Mohamed Friday, 15 March 2024 02:44 PM

These buggers are making statements to safeguard the current vehicle mafia makers to keep them earning more..

Jason Fernando Friday, 15 March 2024 03:26 PM

I hope the Sri Lankan people with the past experiences will not believe these lies from these crooks, the dollar rate is coming down and the market will flood with new vehicles and the Local vehicle importers are just trying to get rid of all their old stocks before this so they don't encounter any loss. Vehicle Prices will go down mark these words.

sam Friday, 15 March 2024 04:03 PM

If public transport is improved to international standards, very few imports may be required

Adwani Friday, 15 March 2024 04:19 PM

If the prices of Vehicles increase, sales will be very low due to no economical development activities. The demand for new vehicles will slump.

Invictusrilankan Friday, 15 March 2024 05:40 PM

Wonder what kind of economics these Vehicle importers association have studied, the simple theory of Demand and Supply seems to have eluded whatever curriculum that was taught at their respective schools. We all know what this 'boy who cried wolf' story is about...

lakmal Friday, 15 March 2024 06:20 PM

If you don't have a car and don't have money to buy a car , leave this shit country immedietly, If you don'thave a car and have money , put that money in foreign bank till these silly policies get changed

Lakmal Friday, 15 March 2024 06:46 PM

Tax should be increased and old vehicles up to 10 year should be allowed to import. Currently people pay 5 time higher value for old cars. Why not convert it to tax income ?

simon maama Friday, 15 March 2024 06:58 PM

" Local vehicle importers claimed that the current market prices of vehicles would increase" The above assertion by the vehicle importers defy the supply-demand theory. Bunch of hoodlums controlling automobile imports are no different from every crooked businessman including Rice mill owners and the drug mafia in the country.

TJ Friday, 15 March 2024 07:03 PM

getting ready to exploit?

SSZ Khan Friday, 15 March 2024 07:53 PM

Is it to allow rhe 225 asses to enjoy the benefits?....No new vehicles should be allowed for MPs and Ministers and politicians. Import of compact vehicles with economic performance should only be all8w3d so that common nen can enjoy the ride with their families. Assembling of economic vehicles can be started with foreign investment with the double aims of empowering the common man and also export to other fountries

udaya Friday, 15 March 2024 10:10 PM

the car sales mafia are lying through their nostrils. In January, they were saying the VAT will increase the prices. Now this crooked argument. Any A-level economics would tell you that greater the supply, the prices should fall. don't fall this crap!

Shera Friday, 15 March 2024 11:38 PM

Vehicle prices have increased all over the world. In the US the prices are sky high with 10% interest on auto loans and leases. This is the reality so get used to it. No country is immune to global effects of price hikes due to the price of raw materials, logistics, shipping, labor and so many factors brought on by wars too.

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Vehicle prices set to increase after import resumptions next year: Importers

Comments - 22

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