Colombo Vehicle Dealers See Steady Demand Despite High Prices

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Despite soaring vehicle prices, Colombo's automobile dealers report a reasonable level of demand, particularly for compact cars, SUVs, and commercial vehicles. Industry experts attribute this to a combination of factors, including pent-up demand due to past import restrictions, a growing need for reliable transportation, and the status associated with owning certain brands.

Below is the latest pricing for popular Toyota and Mitsubishi models in Sri Lanka:

Toyota Prices in Sri Lanka
Toyota Lite Ace – Rs. 7.45 million
Toyota Wigo – Rs. 9.15 million
Toyota Lite Ace Van – Rs. 11.4 million
Toyota Raize – Rs. 12.25 million
Toyota Hilux (Single Cab) – Rs. 15.2 million
Toyota Hiace – Rs. 19.95 million
Toyota Coaster – Rs. 19.8 million
Toyota Yaris Ativ – Rs. 18.5 million
Toyota Rush – Rs. 17.95 million
Toyota Corolla – Rs. 28 million
Toyota Prius – Rs. 28.9 million
Toyota RAV4 – Rs. 37.5 million
Toyota Camry – Rs. 44 million
Toyota Land Cruiser 250 – Rs. 75 million
Toyota Alphard – Rs. 73.9 million
Toyota Fortuner – Rs. 61 million
Toyota Land Cruiser 300 – Rs. 118 million
Mitsubishi Prices in Sri Lanka
Mitsubishi Attrage – Rs. 11.23 million + VAT
Mitsubishi Xpander – Rs. 14.99 million + VAT
Mitsubishi Xpander Cross – Rs. 16.1 million + VAT
Mitsubishi Outlander Sport – Rs. 15.675 million + VAT
Mitsubishi Eclipse Cross – Estimated Rs. 19 million + VAT
Mitsubishi L200 – Rs. 18.135 million + VAT
Mitsubishi Montero Sport – Rs. 49.58 million + VAT
Market Trends and Consumer Preferences
Demand is particularly strong for compact cars and commercial vehicles, as businesses and individuals seek cost-effective transport solutions.
SUVs and premium models continue to attract affluent buyers despite high costs.
Many buyers are opting for financing options to afford these vehicles amid high inflation and economic challenges.
With vehicle import policies still a topic of debate, industry experts predict that demand will remain stable, even as Sri Lankans navigate rising costs and limited availability.
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