Imported vehicle prices fall in Sri Lanka after Japan price cuts

The imported vehicle prices in Sri Lanka have fallen by up to Rs.1.5 million, following the price reductions in Japan, the Vehicle Importers Association of Lanka (VIAL) said.

VIAL President Indika Sampath Merinchige told reporters that unauthorised vehicle imports had led to a backlog of unregistered vehicles in the domestic market, dampening sales.

According to the Central Bank data, Sri Lanka spent US $ 705 million on personal vehicle imports between January and August 2025.

“Among the price changes, an unregistered Honda Vezel Z Play 2025 SUV now sells for Rs.23.5 million, down from Rs.25.5 million. A Toyota Yaris has dropped to Rs.10.5 million, from Rs.11.5 million, while Suzuki Alto Hybrid is now priced at Rs.7.3 million, down from Rs.7.9 million. Suzuki Wagon R has also fallen to Rs.7.3 million, from Rs.7.8 million,” Merinchige said.

He said Toyota has emerged as the leading brand in Sri Lanka’s imported vehicle market, with the Raize and Yaris models topping sales. LC300 and Prado lead the SUV category, while the Toyota double cab and Ford Raptor rank as the third most popular vehicles.

Merinchige added that Nissan has gained ground in the small vehicle segment but Suzuki Wagon R sales have slowed, due to the absence of model upgrades.

He noted that Honda Vezel currently holds the top spot among SUVs, with demand supported by continued restrictions on electric vehicle imports.

Sri Lanka registered 48,708 motor vehicles in September 2025, bringing the total for the first nine months of the year to 220,097, according to the latest vehicle registration summary compiled by JB Securities.

Overall, September registrations included 32,626 two-wheelers, 5,813 SUVs and crossovers, 4,268 motor cars and 3,015 three-wheelers.