The Vehicle Importers Association of Sri Lanka (VIASL) has cautioned that the Government’s newly‑imposed 50% surcharge on vehicle imports will push prices up by at least Rs. 1.5 million, worsening affordability for consumers.

VIASL Spokesperson Arosha Rodrigo told the media that the surcharge, announced through a gazette, comes on top of existing customs duties and recent increases in foreign currency rates.

“Vehicle prices are rising at a rate that no one can afford. The new surcharge on top of this is unbearable for vehicle importers. Many vehicles will increase by 1.5 to 2.5 million rupees,” Rodrigo said.

He explained that customs duty for every vehicle, whether personally imported or sold through dealerships, will increase due to the surcharge. “Definitely, there will be a minimum increase of Rs. 1.5 million for vehicles. But it depends on vehicle to vehicle,” he added.

Rodrigo noted that those who had already opened Letters of Credit before May 15 would be spared the surcharge, though they would still face higher costs due to the rising US dollar and Japanese yen.

VIASL warned that the combined impact of the surcharge, currency fluctuations, and the recent 2.5% increase in the Social Security Contribution Levy would lead to significant price hikes across the market. (Newswire)

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