Despite a notable drop of up to Rs. 1.5 million in imported vehicle prices, Sri Lanka’s vehicle import market is facing a slowdown due to a surge in unregistered vehicles and unauthorized imports, Vehicle Importers Association of Lanka (VIAL) President Indika Sampath Merinchige said.
He said that a large number of vehicles imported outside authorized channels remain unsold, creating a buildup in sales yards and affecting overall market movement.
According to Central Bank data, Sri Lanka spent USD 705 million on personal vehicle imports between January and August 2025 — a significant outflow despite import restrictions on electric vehicles.
Merinchige noted that price adjustments have followed the recent reduction of vehicle prices in Japan. Among them, an unregistered Honda Vezel Z Play 2025 now sells for Rs. 23.5 million (down from Rs. 25.5 million), while a Toyota Yaris is priced at Rs. 10.5 million, and the Suzuki Alto Hybrid and Wagon R are now both around Rs. 7.3 million.
He said Toyota continues to dominate the imported vehicle market with the Raize and Yaris models leading sales, followed by the LC300, Prado, and Ford Raptor.
“While Nissan is performing well in the small vehicle segment, Suzuki Wagon R sales have slowed due to outdated models,” Merinchige added.
He further said that the Honda Vezel remains the most in-demand SUV, largely because ongoing restrictions on electric vehicles have limited alternative options for buyers.
