The first batch of vehicles imported for private use arrived at the Colombo Port on Tuesday (25), following the Sri Lankan government’s decision to ease import restrictions after a five-year hiatus.
The move marks a significant milestone in the country’s automotive industry, which had been severely impacted by the prolonged import ban imposed in 2020 due to economic constraints.
According to the Vehicle Importers’ Association, an SUV imported under the new regulations is expected to be priced between Rs. 24.5 million and Rs. 26 million in the local market.
The Sri Lankan government officially lifted the temporary suspension on vehicle imports, which had been in effect since early 2020, through Gazette Extraordinary Notification No. 2421/44, dated January 31, 2025.
The then government of Sri Lanka had decided to suspend vehicle imports in 2021 due to the economic crisis triggered by the Covid-19 pandemic.
As the severe economic crisis continued to persist, authorities decided to further continue with the restrictions on vehicle imports. Meanwhile, in June 2024, the Ministry of Finance had announced a plan to gradually lift the restrictions by 2025.
The new regulations, effective from February 1, 2025, permit the importation of various types of vehicles, including:
Cars and vans for personal use
Buses for public passenger transport
Goods transport vehicles
Special purpose vehicles
Three-wheelers, bicycles, and other non-motorized vehicles
