TOKYO -- Exports of used Japanese automobiles to Sri Lanka could fall by roughly half in unit terms because of import duty hikes implemented since October, the head of the auto importers' association there tells The Nikkei.
Sri Lanka was the biggest importer of used Japanese cars by value in 2015, ranking sixth overall in unit terms. But it took in just 1,066 used Japanese vehicles this May -- down 70% from a year earlier. Prices of used midsize vehicles sank 14% to 1.45 million yen ($14,128).
