Prices of imported vehicles in Sri Lanka have fallen by up to Rs. 1.5 million, driven by a reduction in vehicle prices in Japan, according to Vehicle Importers Association of Lanka (VIAL) President Indika Sampath Merinchige.
Merinchige said the Honda Vezel remains the most sought-after SUV in the local market, with demand strengthened by ongoing restrictions on electric vehicle imports. The unregistered Honda Vezel Z Play 2025 model now sells for Rs. 23.5 million, down from Rs. 25.5 million.
Other popular models have also seen significant price reductions. A Toyota Yaris now costs Rs. 10.5 million (previously Rs. 11.5 million), while both the Suzuki Alto Hybrid and Suzuki Wagon R are now priced at Rs. 7.3 million, down from Rs. 7.9 million and Rs. 7.8 million respectively.
Merinchige attributed the overall price decline to reduced Japanese vehicle prices and a backlog of unregistered imports in the domestic market caused by unauthorized import activities.
According to Central Bank data, Sri Lanka spent USD 705 million on importing personal vehicles between January and August 2025.
Highlighting brand performance, Merinchige said Toyota continues to dominate Sri Lanka’s imported vehicle market, with the Raize and Yaris leading sales, followed by the LC300 and Prado in the SUV category. The Toyota double cab and Ford Raptor rank third in popularity.
He also noted that Nissan is gaining ground in the small vehicle segment, though Suzuki Wagon R sales have dipped due to a lack of model updates.
Despite the overall market fluctuations, the Honda Vezel continues to lead Sri Lanka’s SUV segment, maintaining its status as a preferred choice among buyers.
