CMTA urges registration of all vehicle importers
View(s):The Ceylon Motor Traders Association (CMTA), whilst agreeing with the government dilemma over rising vehicle imports and outflow of foreign exchange, has called for registration of all vehicle importers.
In a statement, the CMTA said it acknowledged the government’s concern in response to the sudden depreciation of the rupee.
The CMTA suggests that the government implements a scheme to register vehicle importers.
Presently anyone can import a motor vehicle and sell this vehicle to the buyers in Sri Lanka. The public buys this vehicle in good faith.
These vehicles are not supported by the manufacturer’s warranty and are not supported by the manufacturer for recall or safety actions that may be implemented from time to time, or for software updates that are more regularly executed, CMTA added.
The reason for this is that the manufacturer is unaware that the vehicle is in Sri Lanka, as it was built for another market.
The invoice values of these imports may not reflect the genuine transacted value of the vehicle being imported. This is because the source issuing the invoice for the said vehicle is not a credible corporate entity, the CMTA release revealed adding that there is also no check on whether the vehicle being exported has a finance taken out against it.
By registering the vehicle importer and requiring this importer to have submitted their annual returns to the Registrar of Companies, and pay their dues to the Inland Revenue Department, the consumer is at least to some extent assured that he is buying a vehicle from a credible corporate entity.
The registration of the vehicle importer could be a first step towards controlling the quality and quantity of imports of motor vehicles.
The CMTA members are all audited by the manufacturers they represent, and the vehicles they import come directly from the manufacturer with full warranty so the Sri Lankan public is assured of the quality of vehicle and the credibility of the agent, it said.