COLOMBO, Oct. 23 -- Prices of unregistered vehicles in Sri Lanka have begun to fall sharply as importers engage in forced sales to clear stock, according to Vehicle Importers Association of Lanka (VIAL) President Indika Sampath Merinchige, who said even second-hand car prices are now under pressure.

Merinchige said the price correction follows the resumption of vehicle imports in February 2025, ending a nearly five-year import suspension imposed in 2020 after the previous administration restricted imports to conserve foreign exchange during the country's worst currency crisis.

"When imports were reopened, the auction prices of reconditioned cars in Japan, especially those under three years old, had already surged due to Sri Lankan deman...