As the nation anticipates the lifting of restrictions on vehicle imports, there has been a multitude of social media posts deliberately promoting speculative pricing on new vehicles that will be imported.
An official of Associated Motorways (Pvt) Ltd. (AMW), the sole distributor for Suzuki and other leading automotive brands expressed growing concern about the spread of misinformation in this regard.
AMW has closely monitored the market to calculate the likely pricing of new vehicles. These prices are based on import duty, tax, VAT, exchange rates and logistic costs. Unfortunately, many of the prices currently being shared on social media are significantly understated to drive down the used vehicle market. It is widely believed that this false information is being spread by individuals belonging to what is referred to as the ‘Registered Car Sales Mafia’. These parties could be trying to artificially lower the value of registered vehicles. Director at AMW, Virann de Zoysa said, “It is unfortunate that sharing misinformation is running rampant. We must be careful not to fall prey to scam artistes, especially now, given the prospect of the import of vehicles. It is imperative that any potential misinformation be verified by a reliable or authorised party.”
Customers should wait for information on pre-bookings from AMW which will be released following a Government announcement on vehicle import restrictions being lifted. He said customers should be vigilant about misleading information on social media and is committed to providing accurate information on a timely basis.
Zoysa emphasised the importance of relying on verified sources of information, such as official communications from AMW and other authorised distributors, as this is paramount with considering price projections and purchase of vehicles.
