Vehicle importers express concern over possible price hikes as rupee devalues

Vehicle importers express concern over possible price hikes as rupee devalues

Vehicle importers express concern over possible price hikes as rupee devalues

Written by Staff Writer

10 Sep, 2015 | 4:22 pm

According to the Lanka Vehicle Importer’s Association, the increase of the US Dollar selling price to Rs. 140 means there could also be an increase of the prices of vehicles as a result of the devaluation of the rupee.

The Association’s Chairman Sampath Merinchige noted that if the situation persists, the prices of vehicles could rise by around 8% with the price of a light vehicle imported from Japan, rising by around Rs. 300,000 to Rs. 400,000.

However, he also stated that the price of a 1000 CC vehicle would only increase by around Rs. 75,000 to Rs. 100,000.

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