Sri Lanka, Sept. 3 -- Vehicle prices in Sri Lanka have begun increasing sharply, with some popular models seeing increases of up to Rs. 4.5 million, following the Government's decision to extend a 50% surcharge on vehicle import duties until December 31.

A survey conducted by the Daily Mirror among several vehicle sales outlets, along with discussions with vehicle dealers, found that prices had already risen significantly as vehicles imported under Letters of Credit (LCs) opened after May 15 are cleared under the higher duty regime.

Among the latest price increases, a Suzuki Wagon R has gone up by around Rs. 500,000, while a Toyota Raize has increased by approximately Rs. 800,000. A Toyota Yaris has risen by around Rs. 500,000, while t...