Vehicle importers say prices of imported vehicles will plunge

Vehicle importers say prices of imported vehicles will plunge

Vehicle importers say prices of imported vehicles will plunge

Written by Bella Dalima

05 Jan, 2014 | 7:30 am

The Sri Lanka Vehicle Importers Association states that the price on an imported used vehicle will reduce by around Rs.25,000. They note that the reduction in prices was caused due to the removal of the minimum cash margin of 100% imposed against letters of credit for importing certain motor vehicles, by the Central Bank.

The minimum cash margin requirement came into effect on  August 30, 2013 and was applicable to all motor vehicles other than buses, ambulances, lorries and trucks.

 


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