The Vehicle Importers’ Association says that now is the right time for consumers to purchase vehicles as the market has stabilized following an earlier surge in prices.
President of the Association, Indika Sampath Merenchige, said the recent upward pressure on vehicle prices has eased, and the market has reached a more balanced level.
Commenting on the 2.5 percent Social Security Levy (SSL) referenced in the 2026 Budget, Merenchige clarified that it was not a new tax.
He said the levy had been requested to be collected at the Customs point rather than after the vehicle sale.
“This change was something the industry asked for because collecting the levy after sales created unnecessary complications for importers and buyers,” he noted.
Merenchige added that the current environment offers an opportunity for buyers who had postponed purchases during the period of price volatility. (Newswire)
