By Dinitha RathnayakeThe prices of reconditioned vehicles have increased substantially – in some cases by over 50% – according to the Vehicle Importers’ Association of Sri Lanka (VIASL). Speaking to The Morning, VIASL President Indika Sampath Merenchige confirmed a massive rise in the prices of reconditioned vehicles. All non-popular vehicle prices have increased by 25%”. This rapid increase of vehicle prices has a bad impact on the economy as well. 2171/5, dated 16 April 2020, strict restrictions were placed on vehicle imports, in a bid to curb foreign exchange outflows amidst the Covid-19 pandemic.

Source: The Nation August 15, 2021 17:48 UTC