Bajaj to import fewer vehicles to Sri Lanka due to import duty hike

Bajaj Auto Limited is one of the India’s largest exported of two- and three-wheelers has recently reported that it will export few vehicle this year to Sri Lanka due to the stat’s governments sharply increased import duties. Bajaj Auto will export around 60000 units to Sri Lanka this fiscal year to an annual sales to Sri Lanka are 264000 units. Bajaj exports 10,000 motorcycles and 12,000 three-wheelers to Sri Lanka every month. The country accounts for 17-18% of its total exports.

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Bajaj’s Motorcycle prices were increased by 29% and 32% respectively due to Sri Lanka’s import duty hike and the company will face the head for the next two to three months until the buyers get used to the new price hike.

Bajaj Export accounts to 36% of its total production and more than 1.5-million two-wheelers and commercial vehicle which has been sold so far by the company. The Sri Lankan government has increased the import duties on cars from 120-291% to 200-350%, on three-wheelers from 51-61% to 100%, and on two-wheelers from 61% to 100%.

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