December 09, Colombo (LNW): The Vehicle Importers’ Association of Sri Lanka (VIASL) has confirmed that, as of now, no official communication has been received from the government regarding the resumption of vehicle imports, leaving the industry in a state of uncertainty.
Prasad Manage, President of the VIASL, expressed concern over the ongoing uncertainty, which is having a negative impact on the vehicle market.
He noted that this lack of clarity is creating anxiety among both buyers and sellers in the sector.
“The vehicle import industry has been at a standstill for the past 4-5 years, and the current situation is pushing our sector to the brink of collapse. It is crucial for the government to act now and allow the resumption of imports,” Manage said. “Our initial focus would be on importing buses and lorries, with other vehicle categories following in later stages. However, we have yet to receive any formal decision from the authorities on this matter.”
The prolonged suspension of vehicle imports has left many vehicle owners in a difficult position, with some speculating about potential future price hikes, which in turn is affecting the resale market.
Manage has strongly urged vehicle owners to refrain from selling their vehicles at substantially lower prices due to these market speculations.
“We strongly advise vehicle owners not to succumb to the temptation of selling at reduced prices based on speculation or market rumour. No official timeline for the resumption of imports has been provided, and the uncertainty continues,” Manage added.
The VIASL president further stressed the need for the government to issue a clear statement on the matter, as such an announcement would help allay public fears and provide direction to the industry.
Until that time, vehicle owners are being urged to hold off on selling their vehicles at prices far below their true value.
