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Sampath Bank Leads the Way in Regional Vehicle Leasing at Sri Lanka’s Automotive Expo
FINANCIAL CHRONICLE – The Wayamba Motor Show & Kedalla Trade Fair Kurunegala 2026 recently took place at the Udawalpola Grounds in Kurunegala, drawing an impressive crowd of over 100,000 attendees. This diverse group included car enthusiasts, potential buyers, corporate representatives, and various industry stakeholders from Sri Lanka’s Northwestern Province. Sampath Bank PLC was a key…
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Sampath Bank and GV Auto Collaborate to Provide Special Discounts on Electric Vehicle Loans
Sri Lanka’s Sampath Bank has announced a collaboration with GV Auto, a subsidiary of Gavinro International, aimed at facilitating preferential financing options for customers interested in purchasing specific electric vehicles. This partnership enables consumers to benefit from a reduced interest rate that is 0.5 percent lower than the bank’s standard vehicle loan rates when acquiring…
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Chamber report unveils prospects for Sri Lanka’s automotive industry.
FINANCIAL CHRONICLE – The Ceylon Chamber of Commerce has unveiled its Motor Vehicle Industry Report for 2025/26, which delves into the various challenges and opportunities confronting the sector as it navigates a revitalized import landscape, shifts in consumer behavior, advancements in technology, and a transforming regulatory framework. This report marks the first publication in six…
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Sri Lanka plans acquisition of 600 luxury buses at a cost of Rs14.4 billion.
FINANCIAL CHRONICLE – The cabinet of ministers in Sri Lanka has sanctioned a plan to acquire 600 deluxe buses at a cost of 14.4 billion rupees, as announced by Minister Nalinda Jayatissa. The national budget has earmarked 14,400 million rupees for the Sri Lanka Transport Board to procure 600 new standard buses, each designed to…
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Access Motors, the authorized Jaguar Land Rover dealer in Sri Lanka, secures prestigious award for excellence in after-sales service.
FINANCIAL CHRONICLE – Access Motors Private Limited, the official representative for Jaguar Land Rover in Sri Lanka, has been honored with the title of Most Professional Workshop in the After Sales Service sub-industry during the Automobile Industry Awards 2026. Shiran Weerasinghe, General Manager of After-Sales at Access Motors Private Limited, emphasized that this accolade reflects…
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Minister Reports Decrease in Dollar Expenditure Due to Sri Lanka’s Vehicle Import Tax Surcharge
FINANCIAL CHRONICLE – Sri Lanka’s implementation of a 50% surcharge on customs duties for vehicle imports has successfully curbed foreign currency outflows and reduced the demand for US dollars, according to Deputy Finance Minister Anil Jayantha Fernando. Effective May 16, Sri Lanka introduced a temporary 50% surcharge on the Customs Import Duty for new personal…
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Sri Lanka considers designating tourist destinations as zero-emission areas
According to a recent announcement from the government information department, Sri Lanka is contemplating the conversion of tourist areas into “Zero Emission” zones in the future. The government has already conducted preliminary assessments and identified potential opportunities for this initiative, which aims to rejuvenate the green tourism sector in the country. As part of this…
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Sri Lanka Aims to Capture 2.8 Million Uninsured Vehicles with Innovative Digital Card Initiative
Sri Lanka is set to implement a digital insurance card, replacing the existing plastic version, in an effort to integrate 2.8 million uninsured vehicles into the insurance framework, according to the Chairman of the Insurance Regulatory Commission of Sri Lanka, Ajith Raveendra De Mel. De Mel reported that there are currently 8.8 million registered vehicles…
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Sri Lanka Sees Surge in Vehicle LC Openings with Over 9,400 in a Single Day Following 50% Surcharge, Reports Official
FINANCIAL CHRONICLE – On the initial day of implementation, over 9,400 letters of credit (LCs) were issued for the import of new personal vehicles in Sri Lanka, according to Deputy Finance Minister Anil Jayantha. This surge occurred despite the introduction of a temporary 50 percent surcharge on Customs Import Duty (CID), which took effect on…
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John Keells CG Auto of Sri Lanka Refutes Allegations of Pre-Surcharge Vehicle Imports
FINANCIAL CHRONICLE – John Keells CG Auto, the authorized distributor for BYD passenger cars in Sri Lanka, has firmly denied allegations suggesting that the company had prior awareness of an import surcharge on vehicles and that it opened Letters of Credit just before the announcement. In a statement, JKCG asserted, “We categorically deny these claims…
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Sri Lanka Grants Vehicle Contracts Worth Rs1.46 Billion to United Motors, Toyota, and DIMO
Sri Lanka’s Cabinet of Ministers has given the green light to a proposal for the procurement of vehicles, including cabs and tractors, totaling 1,458.75 million rupees. The announcement was made by Minister Nalinda Jayatissa. According to Jayatissa, these vehicles are designated for the Department of Wildlife Conservation, intended for managing wild elephants and other related…