Imported Vehicle Prices Drop in Sri Lanka After Japan Price Cuts: VIAL

Vehicle prices in Sri Lanka have seen a significant reduction of up to Rs. 1.5 million following price cuts in Japan, according to the Vehicle Importers Association of Lanka (VIAL).

The prices of imported vehicles in Sri Lanka have dropped notably after Japan reduced export prices, Vehicle Importers Association of Lanka (VIAL) President Indika Sampath Merinchige announced.

Speaking to the media, Merinchige said that unauthorized imports have contributed to a buildup of unregistered vehicles in the market, creating a slowdown in sales. According to the Central Bank, Sri Lanka spent USD 705 million on importing personal vehicles between January and August 2025.

Among the recent price revisions, an unregistered Honda Vezel Z Play 2025 SUV now sells for Rs. 23.5 million, down from Rs. 25.5 million. A Toyota Yaris has decreased to Rs. 10.5 million from Rs. 11.5 million, while the Suzuki Alto Hybrid now costs Rs. 7.3 million, down from Rs. 7.9 million. The Suzuki Wagon R has also dropped to Rs. 7.3 million, compared to Rs. 7.8 million previously.

Merinchige noted that Toyota continues to dominate Sri Lanka’s imported vehicle market, with the Raize and Yaris leading in sales. The Land Cruiser 300 (LC300) and Prado top the SUV category, while the Toyota double cab and Ford Raptor remain popular choices among consumers.

He added that Nissan has gained traction in the small vehicle segment, although Suzuki Wagon R sales have declined due to limited model updates.

Highlighting current market trends, Merinchige said the Honda Vezel holds the top position among SUVs, with strong demand supported by ongoing restrictions on electric vehicle imports.