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Skyonline last won the day on November 21 2020

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  1. Micro Cars to locally assemble MG Almaz 7 seater https://www.dailymirror.lk/other/Micro-Cars-to-locally-assemble-MG-Almaz-7-seater/117-224068
  2. MG, Chery, Proton vehicles to be assembled in Sri Lanka The Vice President of China National Machinery Import and Export Corp, Wu Yi, called on the Ambassador of Sri Lanka to China Dr. Palitha Kohona, 26 October 2021, at the Embassy to explore the possibility of establishing a vehicle plant in Sri Lanka. They plan to produce and promote the MG, Chery and Proton brands in Sri Lanka. The China National Vehicles Import & Export Co. Ltd., (CVC) is a wholly owned subsidiary of China National Machinery Import and Export Corp (CMC). The CVC is an enterprise specialized in the distribution of automobiles, auto parts and components and other similar products. The CVC has already established an effective relationship with Micro Cars of Sri Lanka. The Vice President of China National Machinery Import and Export, Wu Yi said that the CVC was in the process of discussing an expanded joint venture with Micro Cars. Ambassador Dr. Kohona stated that the Government of Sri Lanka welcomes investment in the automobile sector. He encouraged the CVC to present a detailed proposal. The Ambassador explained the domestic market for vehicles and the wider market that is available given Sri Lanka’s location in a prosperous region of the world. Further, he assured the fullest support of the Embassy. Vice President Wu was accompanied by General Manager of the CMC Yin Qing, Deputy General Manager of the CVC Gu Chaogang, Deputy General Manager of the CVC Zhu Xiaomei, and Commercial Manager of the CVC Yan Wenshuo. https://www.lankabusinessonline.com/china-national-vehicles-import-export-co-ltd-to-invest-in-vehicle-plant-in-sri-lanka/
  3. Sri Lanka’s central bank is looking at a proposal to allow persons who can bring foreign exchange abroad to import vehicles and pay taxes in dollars, Central Bank Governor Nivard Cabraal said https://www.google.com/amp/s/economynext.com/sri-lanka-cb-to-propose-dollarized-car-imports-amid-money-printing-87128/
  4. There is a rumour within the vehicle trade saying Tata Tiago may be assembled here. https://cars.tatamotors.com/cars/tiago
  5. Diesel and Motor Engineering PLC (D*MO) has decided to venture into the assembly of vehicles. “The current Government policy with regard to vehicle imports led us to consider the option of assembling vehicles in Sri Lanka. We have obtained the necessary approvals to perform a vehicle assembly operation on a semi-knock-down (SKD) basis, and the service will be available in the market soon,” D*MO Chairman Ranjith Pandithage said. The assembly operation will be carried out at D*MO’s premises in Weliweriya, he added in the Company’s Annual Report for FY21. https://www.ft.lk/front-page/Impacted-by-import-ban-D*MO-ventures-into-assembly-of-vehicles/44-719917
  6. If someone comes tomorrow and cuts the need for your job to exist and says for years we are going to make your job usless so you can't make money out of it but it will save the economy. Hope you will have the same mentality then...
  7. Vehicle Importers Association of Sri Lanka (VIASL) urged the government to reconsider the import ban. They said severe issues had been faced by the vehicle importers and all related industries due to the ban on vehicle imports. It creates a negative impact on the Sri Lankan economy, they said. “Vehicle importers provide various employment opportunities ranging from accountants, sales executives, marketing executives, drivers, cleaners, security staff, etc. Furthermore, services areas such as clearing agents, interior cleaners, mechanics, car carrier operators and service centres are directly dependent on the importation of motor vehicles,” the Association said. “The vehicle importers, as well as related service providers, are at stake in maintaining their business premises, paying off bank loans, rent and paying the salaries of their employees. Since the industry was only at the recovery stage after the Easter attack, most vehicle importers carried out importation with minimum stock, as the holding cost of our industry is substantial,” it said. Hence currently there are a large number of showrooms and importers in the country who are without a single vehicle in their showrooms and are struggling to survive and to pay their employees, the Association added. “If the ban is to continue further, they will be forced to close down their business and make all their employees redundant. As per the calculation carried out by VIASL, around 100,000 direct and indirect employees will have to be made redundant if the ban is to continue further, the Association said. This would mean around 350,000-400,000 dependents of these employees would be facing severe financial difficulties threatening survival, they added. http://www.dailymirror.lk/breaking_news/Reconsider-the-ban-on-vehicle-imports-VIASL-urges-Govt/108-200337
  8. Statement from Vehicle Importers Association highlighting 5 key issues Import ban on motor vehicles The government has imposed a complete ban on Motor Vehicles since March 2020 sighting foreign currency out-flows as the main reason. This measure has been strictly imposed and even those vehicles with already established letters of credit have not been permitted in to the country. This has negatively impacted the Sri Lankan economy as well as vehicle importers and all related industries. These entrepreneurs have been in the motor vehicle industry for generations. Furthermore, those providing supporting services for motor vehicles have been adversely affected. Erroneous information received by the Government regarding existing stocks VIASL carried out a survey regarding the current stock situation. As per this report, there are less than 3,000 motor vehicles in the market and this is not even sufficient to cater to at least two and half months demand. Hence, lifting the import ban immediately is paramount for the survival of our trade. Issues regarding purchasing a vehicle locally under the concessionary permit Even though a circular has been issued detailing an arrangement for permit holders to purchase cars locally, no instructions have been issued to importers detailing how the permits can be redeemed. Furthermore, since most importers are without stock, the importers are facing the difficulty of catering to the preferred choice of permit holders. Severe issues faced by vehicle importers and related parties Vehicle importers provide various employment opportunities ranging from accountants, sales executives, marketing executives, drivers, cleaners, security staff, etc. Furthermore, service areas such as clearing agents, interior cleaners, mechanics, car carrier operators and service centers are directly dependent on importation of motor vehicles. 100,000 direct and indirect employees will have to be made redundant if the ban is to continue further. This would mean around 350,000-400,000 dependents of these employees would be facing severe financial difficulties threatening survival. Negative Impact on the Economy For our economy to move forward transportation and mobility is essential. As per the people-centric economic development vision of our Hon. President Gotabaya Rajapaksa; Fisheries Sector, Milk Products, Tourism Industry, Construction Industry as well as Small & Medium scale Industries need to be boosted and developed. For this to materialize vehicles such as small and medium size vans, trucks, buses, smaller motor-cars etc need to be imported in to the local market at a very affordable price. Issues with local assembling An already completed product in China or India is dismantled and then carefully repacked in to several parts and imported as spare parts to Sri Lanka, evading the import tax applicable on a finished motor vehicle. Then the same vehicle is reassembled back in these so called workshops and sold to the general Sri Lankan public. The local assembling companies mainly import an almost finished product and add minimal value to it. Hence the CIF (Cost, Freight & Insurance) value or the amount of foreign currency sent out of the country is perhaps more than the CIF value of a good quality Japanese vehicle. So far, the intended objective of the government, in promoting vehicle assembling industry using locally manufactured parts had not been achieved and this process has not generated any export revenue. Lifting the ban on motor vehicle importation We urge to government lift the ban on motor vehicles at the earliest for the mobility of our economy and development of various industries. Furthermore, concessions need to be provided for categories such as small motor-cars, trucks, vans and buses. This will enable mobility and development of people-centric economic sectors while giving the motor vehicle importers to survive. More Info - http://www.newswire.lk/2020/10/02/statement-from-vehicle-importers-association-highlighting-5-key-issues/
  9. Following the decision of temporarily suspending the importing of vehicles, the increasing prices of the second-hand vehicle market cannot be controlled by the Government, Transport State Minister Dilum Amunugama said. "With the current situation, customers should act wisely. This temporary suspension is not permanent. This has to be imposed to stabilize the cash flow to some extend," the State Minister said. "After imposing this temporary suspension, the value of the Rupee remains at a satisfactory level. This has occurred following the COVID-19 pandemic situation. As soon as the pandemic situation is brought under control, the suspension to import vehicles would be relaxed," Minister Amunugama added. http://www.dailymirror.lk/breaking_news/Govt-cant-control-second-hand-vehicle-market-Transport-State-Minister/108-196505
  10. MG, a British car manufacturer owned by SAIC Group, has rolled out a new model named Pilot, its first SUV to take advantage of the new MG design philosophy. The car sports a massive radiator grille with a large MG logo on it, as well as a bulging hood cover. 19-inch wheels, LED headlights and digital dash are included in the base spec, and sunroof is a paid option. The company says it will reveal the engine lineup in mid-fall, but turbocharged engines definitely be there. https://formacar.com/en/news/view/29268.html
  11. The Government has decided to suspend vehicle Imports for a year in a bid to stop cash outflow, Cabinet spokesman Keheliya Rambukwella said. He told reporters at the weekly Cabinet press briefing that an assessment of the vehicle market has shown that there are enough vehicles imported into the country to last a year. He said that due to the impact of the COVID-19 outbreak, the country is facing a serious foreign currency crisis and hence certain curbs are needed to stop cash outflows. Meanwhile Cabinet this week approved a proposal submitted by Prime Minister Mahinda Rajapaksa, who is also the Minister of Finance, for allocation of provisions from the Department of National Budget to State institutions who lack allocations to repair the vehicles that can be used after undergoing an overhaul. Rambukwella said that it has been observed that a considerable number of vehicles in Government institutions lie unutilised at present due to lack of proper maintenance whereas the number of vehicles that can be used after renovation has been calculated at 4,116, while the number of vehicles that can be discarded amounts to 5,588. While the vehicles that can be repaired will be transferred through the Comptroller General’s Office under the Ministry of Finance to the State institutions that lack enough vehicles, a formal methodology will be worked out for discarding irreparable vehicles, he said. Last week the Finance Ministry announced a facility for public officials to purchase motor vehicles in the domestic market using the concessionary motor vehicle permits. http://www.ft.lk/front-page/Govt-suspends-motor-vehicles-imports-for-1-year-says-enough-in-market/44-705651
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