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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Will car price decrease in srilanka?

Will car price decrease in srilanka?

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1Will car price decrease in srilanka? Empty Will car price decrease in srilanka? Wed Jun 19, 2013 9:26 pm

reez


Manager - Equity Analytics
Manager - Equity Analytics
Lots of people talking regarding vehicle price will reduce. But i m not sure even japan yen climbed Rs 1.37. What u thing guys..............

2Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Wed Jun 19, 2013 9:29 pm

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I feel it is foolish to increase car taxes and blame cars for balance of payments crisis.

But i do feel car taxes must be kept high till we have adequate roads and traffic control systems. Its a mess now.

If any change was to occur in tax of cars, it will most likely be southwards

Cheers!

3Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Wed Jun 19, 2013 9:42 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
We have no solution for BOP crisis since we export non essential goods instead import essentials. Wt the hell we can do ne ? Export Rice at least in the long run may be even at a loss.

4Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Wed Jun 19, 2013 9:47 pm

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Most cars coming to sri lanka are from india,Japan and korea  few high end are from germany. indian rupee at all time law and yen also going down i do not think government do anything to taxes. most analysis say yen will go down more after conclusion of upper house election on 21st of July 2013. they expect it to reach 120 to US$ by end 2013

5Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Thu Jun 20, 2013 10:10 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
BOP is not results of import - export imbalance. 
Its a result of deliberate policy of money printing & keeping the USD peg.

This is CBSL chief's hypocrisy

6Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Thu Jun 20, 2013 10:27 am

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
The Indian rupee hit a record low of 59.94 against dollar. This is an all-time low for the Indian currency.


The partially convertible rupee traded at 59.92 against Wednesday's close of 58.71/72 per dollar. Last week the rupee had hit a low of 58.98 against the currency.


Traders are unnerved after U.S. Federal Reserve Chairman Ben Bernanke confirmed that the Fed would begin reducing its stimulus spending later this year. The Fed's tapering of its bond purchases could trigger an outflow from emerging markets including India.  


Outflows from equity markets have added to concerns about the funding of the current account deficit. Foreign fund selling in Indian equities have picked up pace to add to the huge sell-off in debt markets.


Overseas investors have sold $485 million of Indian shares in five sessions, adding to outflows of $4.7 billion in 18 consecutive sessions of debt selling, as per capital market regulator data.


Inflows are crucial to bridge India's current account gap and will be needed to fund an estimated $90 billion gap in its balance of payments in the current financial year.


Credit Agricole has sharply lowered its rupee forecast to 59 to a dollar by end-September from 53.25, highlighting the currency's difficulty to fund its financial constraints.


http://profit.ndtv.com/news/forex/article-rupee-hits-record-low-of-59-94-against-dollar-323529?pfrom=home-lateststories

7Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Thu Jun 20, 2013 12:24 pm

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Govt has to bring down the taxes If to see a drastic reduction.
The effect felt on currency fluctuation is minimal compared to the exorbitant taxes imposed on vehicle imports.

8Will car price decrease in srilanka? Empty Re: Will car price decrease in srilanka? Thu Jun 20, 2013 1:36 pm

WWDNF


Equity Analytic
Equity Analytic
I think the Govt makes more money from this than what we are made to believe.  People will scrape the bottom to find money to purchase a higher value car with their permits and the government makes more in taxes through the sheer volume of luxury car sales than if they charged the full duty (how many Beemers, Mercs and other SUVs could locals afford if they were taxed at the full rate ???).  Now they are selling in the thousands.  Me thinks ...

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