Guys,
Thought of starting a thread for an interesting discussion because I see this popping up everywhere and might be good to put everything in one place.
My Answer to this is NO (atleast not drastically). The reasons I see is given below with a comparison. Feel free to put your arguments below for the sake of the rest.
Simple example I can give to you that shit will not improve is, Let's take a vitz
Back in 2018 (brand news 2018 shit)
Japan auction price 1.5milY (1Y=1.5LKR) --> 2.2mil LKR
SL Duty --> 2.2mil LKR
Total --> 4.5mil LKR (roughly. This is personally imported price.)
Now in 2021 the above will be
Japan auction price 1.5milY (1Y=2.75LKR) -->4.2mil LKR
SL Duty --> 2.2mil LKR (Let's say it doesn't change)
total --> 6.5mil LKR
current market price 7mil to 8mil
Now the second calculation has a very little chance to change because it is directly tagged to the exchange values. Also with the new directions of IMF they will not lower the duty but as a matter of fact might increase it even further if they allow to import vehicles.
So my personal view is vehicle prices will remain the same for a quite a long time and it has a better chance of going up than coming down.
Thought of starting a thread for an interesting discussion because I see this popping up everywhere and might be good to put everything in one place.
My Answer to this is NO (atleast not drastically). The reasons I see is given below with a comparison. Feel free to put your arguments below for the sake of the rest.
Simple example I can give to you that shit will not improve is, Let's take a vitz
Back in 2018 (brand news 2018 shit)
Japan auction price 1.5milY (1Y=1.5LKR) --> 2.2mil LKR
SL Duty --> 2.2mil LKR
Total --> 4.5mil LKR (roughly. This is personally imported price.)
Now in 2021 the above will be
Japan auction price 1.5milY (1Y=2.75LKR) -->4.2mil LKR
SL Duty --> 2.2mil LKR (Let's say it doesn't change)
total --> 6.5mil LKR
current market price 7mil to 8mil
Now the second calculation has a very little chance to change because it is directly tagged to the exchange values. Also with the new directions of IMF they will not lower the duty but as a matter of fact might increase it even further if they allow to import vehicles.
So my personal view is vehicle prices will remain the same for a quite a long time and it has a better chance of going up than coming down.
