LNP - Prices of popular brands of vehicles decline, ideal time to buy vehicles: Vehicle Importers

With the decrease in demand, fuel shortages and increase in leasing interests, the prices of several popular brands of vehicle in the market have decreased. Therefore, this is the appropriate time to buy vehicles, Vehicle Importers Association of Sri Lanka (VIASL) President Indika Sampath Merinchige said. He said the vehicle prices in the local market increased due to the government's decision not to import vehicles, but with the shortage of fuel, cost of spare parts and leasing terms, the prices of vehicle have come down drastically. "The current demand for vehicles and the behaviour of the market caused the decline in the prices of vehicles. People are unable to get loans or leasing facilities to buy vehicles. But only those who have money in hand can afford to buy vehicles. However, there is no decline in prices of vehicles which are priced lesser than Rs. 3,000,000