Auto importers in Sri Lanka have indicated that the prices of second hand vehicles will not decrease, even with the influx of new vehicles into the market.
Despite the arrival of new car shipments, prices of the second hand market are expected to remain at their current levels due to high taxes on vehicle imports.
M.K. Dushan Asanga, Treasurer of the Sri Lanka Auto Importers Association, confirmed that a significant number of vehicles imported from Japan are set to arrive later this month. One of the key vehicles being imported is the Toyota Aqua, with a price tag of Rs. 13 million for the new model. In contrast, used Aqua cars currently available in the market are being sold for Rs. 07 – 08 million.
The price of a new Wagon R is reported to be around Rs. 09 million, he added.
A shipment of vehicle imports from Japan arrived at the Hambantota Port Feb. 27 are expected to be released to the local market starting this week.
