Trucks had a 7 percent port and airport levy and nation building tax. The budget had imposed a 15 percent excise duty raising taxes to 22 percent. Compared to trucks however, cars are taxed at a much higher rate.
The price of a small car may go up by 200,000 rupees, he said.
Some of the cheapest small cars in the market include an Indian made Maruti and the Tata Nano.
Reginald Heyzer sales Manager of Associated Motorways said the price of an 800cc engine Maruti may go up by over 100,000 rupees and an Alto model by about 75,500 rupees.The prices of larger cars will remain stable as they already pay over 750,000 in taxes, under the rules announced in the tax change, Gunasekera said.
The price of a three wheeler may go up by about 25,000 rupees.