The Vehicle Importers Association of Sri Lanka has submitted a new proposal to the government, suggesting the importation of seven-year-old Japanese vehicles as a measure to reduce costs and improve affordability. Prasad Kulatunga, the association’s secretary, emphasized that the initiative could help the country save significant foreign exchange while making vehicles more accessible to the public.
According to Kulatunga, importing older vehicles would allow four vehicles to be purchased for the price of a single new vehicle. This approach is expected to address the current affordability challenges faced by many Sri Lankans due to high vehicle prices and economic constraints.
The proposal, if accepted, could provide a much-needed boost to the automotive market, which has struggled under the weight of stringent import restrictions imposed in recent years. Kulatunga expressed optimism that the move would not only benefit individual buyers but also alleviate pressure on the national economy by reducing the overall cost of vehicle imports.
The association also highlighted that Japanese vehicles are renowned for their reliability and durability, making even older models a practical choice for Sri Lankan consumers. The proposal is now under government consideration, and further discussions are expected regarding its feasibility and impact on the local economy.
This initiative could mark a turning point for vehicle ownership in Sri Lanka, offering an affordable alternative for those who have been priced out of the market while conserving valuable foreign exchange reserves.
