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Sep 18, 2020

Limited vehicles available for purchase – Importers

The Vehicle Importers Association of Sri Lanka says only a limited number of vehicles are available in the market for sale at present.

Chairman Indika Sampath Merenchige speaking to NewsRadio said only 5% of vehicles are presently available.

He revealed that sufficient vehicles do not exist for the months ahead.

He explained when authorities announced that vehicles would not be imported for about two years, people bought vehicles unnecessarily, based on the assumption that vehicle prices would increase and purchasing a vehicle would be difficult.

He stressed that vehicles in the market were sold rapidly, adding it is likely there are less than 5% of vehicles imported from Japan.

Merenchige said 90% of the vehicles in the market are second hand at present, adding during the past five years the economy was on a downward spiral and several business incurred losses.

He said around 40-50% car sales outlets have closed down adding even those had used vehicles.

(newsradio.lk)

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