Vehicle+prices+likely+to+increase+by+3+to+5+hundred+thousand+rupees
Wednesday, 09 January 2019 - 13:40
Vehicle prices likely to increase by 3 to 5 hundred thousand rupees
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The Motor Vehicle Importers Union states that they are compelled to stop vehicle imports due to the continuous depreciation of the local rupees against the US dollar.

Union Chairman, Indika Sampath Merenchige told our news team that on average ,importers have been required to pay an additional 3 hundred thousand rupees per vehicle, as a consequence of the rupee depreciating.

Although a new motor vehicles import tax has not been introduced in the upcoming budget, the prices of motor vehicles have to been increased in the current market condition.

 


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