Reduction in vehicle prices: vehicle importers badly affected

Due to the volatile situation arising in the country, the vehicle prices have dropped unexpectedly, it is reported.

According to the Vehicle Importers Association President Indika Merenchihe, the vehicle sales have come to a complete standstill.

He said those wanting to purchase a vehicle could not hope for a better time to do so than now.

He noted that due to the uncertainty, people are reluctant to purchase vehicles on loans, adding that around 90% of vehicles are purchased through loans.

He also said that most vehicles are stuck at the port unable to be cleared by the importers as even the obtaining of bank loans has become difficult.


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