The Vehicle Importers Association says now is the right time for consumers to purchase vehicles, as the market has stabilized following recent price increases.
Association President Indika Sampath Merenchige stated that the upward pressure on vehicle prices has now eased, with the market settling at a more balanced level.
Addressing concerns about the 2.5 percent Social Security Levy (SSL) included in the 2026 Budget, Merenchige clarified that it is not a new tax. He explained that the industry’s request was to have the tax collected at customs, rather than after the sale of vehicles.
“This change was requested by the industry because collecting the tax after the sale created unnecessary problems for importers and buyers,” he said.
Merenchige further noted that the current market conditions offer an opportunity for buyers who had postponed their purchase decisions during the period of price volatility.
