Nov 13, 2021

Vehicle prices increase further, no budget relief! Featured

Reduction in vehicle prices cannot be expected in the future as no import concessions have been given in this year's budget, said the President of the Vehicle Importers Association Indika Sampath Merenchige.

He said there is nothing in the budget regarding vehicle tax or import concessions.

He has also told the media that the government will not be able to provide these reliefs until the foreign exchange reserves are strengthened.

As a result, he said that it would not be possible to import vehicles to the market at cheaper rates as expected by the people.

He also explained that these things can only be expected to change as the government takes steps to strengthen foreign reserves in the future.

Accordingly, he warned that the uncertain increase in vehicle prices currently in the market is likely to increase further, adding that this has created a disadvantage for vehicle traders as well as consumers.