Imported vehicle prices drop in Sri Lanka following Japan price cuts

The prices of imported vehicles in Sri Lanka have dropped by up to Rs. 1.5 million, following a reduction in vehicle prices in Japan, Vehicle Importers Association of Lanka (VIAL) President said.

VIAL President told the media that unauthorized vehicle imports had caused a backlog of unregistered vehicles in the local market, affecting sales.

According to Central Bank data, USD 705 million was spent on importing personal vehicles between January and August 2025.

"Among the price changes, 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 dropped to Rs. 10.5 million from Rs. 11.5 million, while the Suzuki Alto Hybrid is now priced at Rs. 7.3 million, down from Rs. 7.9 million. The Suzuki Wagon R has also fallen to Rs. 7.3 million from Rs. 7.8 million," he said.

Merinchige highlighted that Toyota has emerged as the leading brand in Sri Lanka’s imported vehicle market, with the Raize and Yaris models topping sales charts. The LC300 and Prado lead in the SUV category, while the Toyota double cab and Ford Raptor rank as the third most popular vehicles.

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

The VIAL president further noted that the Honda Vezel currently holds the top spot among SUVs, with demand supported by ongoing restrictions on electric vehicle imports.