The 2005 Jeep Grand Cherokee parked
outside the agent’s showroom during Tuesday’s launch. The US$ 11,600
four wheel drive, joins Sri Lanka’s craze for sports utility vehicle.
Sri Lanka’s car industry has been hit by a tsunami of different sorts
after the government jacked up import taxes. (LBO Photo)
Sri Lanka’t jacked up taxes to keep the exchequer afloat.
The 2005 Jeep Grand Cherokee parked
outside the agent’s showroom during Tuesday’s launch. The US$ 11,600
four wheel drive, joins Sri Lanka’s craze for sports utility vehicle.
Sri Lanka’s car industry has been hit by a tsunami of different sorts
after the government jacked up import taxes. (LBO Photo)
Sri Lanka’t jacked up taxes to keep the exchequer afloat. Since October 2004, government taxes now account for 187 percent of all new and second hand vehicles imported into the country.
Car dealers are among the worst hit by the taxes aimed at plugging dwindling foreign reserves.
Total vehicle registrations have fallen by 112 percent to 688 un
