Wednesday, April 18, 2012

Price of used vehicles gone down in Sri Lanka

Chairman of Sri Lanka Motor Vehicle Importers Association Yoga Perera says that the price of reconditioned vehicles will go down by around 20% with the latest relax of import restrictions by the government.

Sri Lanka government has decided to relax the restrictions imposed on the imports of used motor vehicles following a discussion between the President Mahinda Rajapaksa and the vehicle importers yesterday.

Accordingly, the restriction for used commercial vehicles has been relaxed from 3 1/2 years to four years. The restriction for other vehicles has been relaxed from one year to two years.

The government increased production tax of the vehicles since March 31 and the price of small brand new cars went up by about 50%.

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