Imported used vehicles price hike after budget

Reconditioned vehicle price .....
goes up after budget

The full particulars of the 2014 budget presented yesterday (21) by the Hon. President will be revealed only after it is tabled in parliament.

Mr. Mahinda Sarachchandra, President of the Association of Vehicle Importers mentioned that according to the new decision, the price of imported vehicles will go up in price.

Percentage of taxes on vehicles presently used is as follows:
                                                                                             70 percent for 6 months, 75 percent for 12 - 18 months and 70 percent for 18 - 24 months. As such, the 90 percent tax applies for vehicles that are 2 years old.

Accordingly, after calculation, the President of the Vehicle Importers' Association said that there is a tendency that reconditioned small cars and three-wheelers imported to to the country would go up in price by 8 percent; diesel vans and double cabs 6 - 7 percent after the budget.