Prices of Japanese vehicles set to increase - Vehicles Importers Association

Colombo (News 1st) -  The prices of vehicles imported from Japan are expected to increase due to the rise of Yen value over Sri Lankan Rupees according to the Vehicle Importers Association of Sri Lanka (VIASL). The Chairman of VIASL, Ranjan Pieris who spoke to News1st stated that the increase in prices is in direct correlation to the increase of Cost Insurance and Freight (CIF) value alone. Ranjan Peiris expects the CIF values of imported vehicles from Japan to increase by approximately 5% adding that there has been no change in the taxes imposed by Customs or the Government. Thereby vehicles such as the Suzuki Alto (Japanese), Suzuki Wagon R, Toyota Axio, Toyota Premio, Honda Vezel, Toyota C-HR, Honda CR-V and other vehicles imported from Japan would see an increase in their valuations.