Sri Lanka, May 11 -- The recent easing of import restrictions marks a vital milestone for Sri Lanka's automotive sector. After nearly four years of halted imports, the market is cautiously regaining momentum, an official of the Ceylon Motor Traders' Association (CMTA) said.

Its Chairman Andrew Perera said there is renewed consumer confidence, and we are seeing gradual reactivation across key segments of the industry.

However, the institution representing leading automobile manufacturers in the world noted that while regaining momentum in the industry is a welcome development, the market remains in a delicate recovery phase.

Factors such as high import duties, limited access to foreign currency, and the need for consistent long-term pol...