17/05/2026
🚗 Sri Lanka Vehicle Market Update
Vehicle Prices Rising — May 2026
Friends, if you’re planning to buy a vehicle, here’s the latest situation:
• 2.5% Social Security Contribution Levy (SSCL) now applied on imports
• New temporary 50% surcharge on Customs Import Duty (announced today, 16 May 2026 – valid for 3 months)
• Current USD/LKR exchange rate pressure
These changes are directly impacting import costs. Popular models like Vezel, Wagon R, hybrids and others are expected to see noticeable price increases in the coming weeks.
LCs opened before 16th May are exempt from the new surcharge.
Advice for buyers: Check full landed costs carefully, compare quotes from different dealers, and verify exemption eligibility before making decisions. The market is active but shifting again.
What are your thoughts? Planning to buy soon or wait? Drop a comment below 👇