Sri Lanka, Aug. 3 -- The Ceylon Automobile Importers Association is pushing for a comprehensive overhaul of Sri Lanka's vehicle taxation system in the upcoming Budget 2027, proposing a unified fee structure designed to make cars affordable again for the country's middle class.

The proposal, which aims to address the severe supply constraints and skyrocketing prices that have locked young professionals out of the automobile market, has already seen robust engagement with key institutional stakeholders.

According to the Household Income and Expenditure Survey (HIES) 2022/23, around 58 percent of Sri Lankan households own at least one vehicle. The breakdown underscores a heavy reliance on two-wheelers and three-wheelers, with motorcycle o...