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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Sri Lanka relaxes import restrictions on used motor vehicles

Sri Lanka government has decided to relax the restrictions imposed on the imports of used motor vehicles.

The President directed the officials to relax the restrictions following a discussion with the vehicle importers. The discussion was held in the Temple Trees yesterday.

Accordingly, the restriction for used commercial vehicles has been relaxed from 3 1/2 years to four years. That means that commercial vehicles used upto four years can be imported to Sri Lanka now.

The restriction for other vehicles has been relaxed from one year to two years.

The delegation of the vehicle importers' association was led by Yoga Perera. Deputy Minister of Finance Geethanjana Gunawardhana, secretary of the Ministry of Finance P.B. Jayasundara and a number of other state officials participated in the discussion.
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