CMTA Archives

February 29, 2024

The Ceylon Motor Traders Association (CMTA) recently received an invitation from the Society of Indian Automobile Manufacturers (SIAM), the apex national body representing vehicles and vehicular manufacture in India, to discuss ways to revive Sri Lanka’s automotive sector. Mr. Charaka Perera, Chairman of CMTA and Mr. Virann de Zoysa ,Senior Vice Chairman of CMTA, met with key SIAM representatives, including Mr. Atanu Ganguli, Excutive Director and Ms. Pooja Nagpal, Executive Officer, Policy Advocacy at SIAM.

A highlight of the visit were the discussions with senior officials of the Indian government, underscoring the commitment to fostering bilateral relations in the automotive sector. Notable among these meetings were discussions with Mr. Anant Swarup, Additional Secretary, and Ms. Jyoti Yadav, Deputy Secretary, Ministry of Commerce & Industry, along with Mr. Ramkumar C, Director of the Indian Ocean Region Division, Ministry of External Affairs, Government of India. Mr. Swarup expressed a keen interest in supporting the development of Sri Lanka’s component manufacturing industry.

Central to the discussions held with the CMTA were strategies to enhance automobile and spare parts trade, including the exploration of trading in Indian Rupees (INR) and the establishment of a robust component manufacturing ecosystem with India’s support. Deliberations also encompassed the Indo-Sri Lanka Free Trade Agreement (ISFTA), highlighting its potential to significantly benefit Sri Lanka’s automotive industry.

The CMTA also engaged in discussions about the component manufacturing industry. Given India’s prowess in this domain, discussions revolved around leveraging India’s expertise to bolster Sri Lanka’s component manufacturing infrastructure. Talks centred around India’s commitment to providing support in terms of procurement, training, and technology transfer to kickstart this vital industry.

The invitation from SIAM underscores the importance of collaboration in reigniting automotive trade between the two countries. The engagement has provided valuable insights into avenues for collaboration and the revitalizing Sri Lanka’s automotive industry. As Sri Lanka looks ahead, partnerships forged during this visit are expected to drive much needed growth and innovation in the automotive sector.

January 23, 2024

The Ceylon Motor Traders’ Association (CMTA) made a statement claiming that the newly imposed VAT on used vehicles, has supported the creation of a black market in the industry, while increasing the market prices of used vehicles which is hurting the common man of the country.

The recent implementation of VAT has stirred concerns in the motor trade as legitimate companies now face a significant hurdle. When these companies sell vehicles, the prices surge by an additional 18% due to the newly imposed VAT. On the other hand, unethical companies and individuals, often dealing in cash transactions, can operate without the burden of this additional tax, offering them an 18% substantial competitive advantage. This situation poses a serious threat to legitimate companies, rendering them inoperable against black-market competitors.

As a result, the used vehicle sales will move to such black market traders and the government will not be able to achieve the expected income from VAT on used vehicles. The reason is that such black market traders do not divulge the actual transactions or profitability to authorities and therefore do not pay any income taxes or any other direct taxes.

In addition to the above, since the legitimate companies will have to exit the used vehicle business completely, the government will lose even the income tax which it was getting from such companies previously.

The Senior Vice Chairman of CMTA Mr. Virann De Zoysa states that “The black market traders, taking undue advantage of the situation, have already increased prices of vehicles and two wheelers, which is hurting the common man of the country, who were battered by the exorbitantly high used vehicle prices resulting from the now 04 year long, vehicle import suspension. Take for instance, the Suzuki Wagon R, one of the country’s most popular vehicles. A legitimate company would now have to charge an additional Rs.1 million due to the VAT, making it significantly harder for the average consumer to afford. Even a commonly purchased two-wheeler like the Honda Dio Scooter will cost an additional Rs. 100,000 at a legitimate company. Further, each time a used vehicle goes through the buying and selling cycle, the price keeps escalating due to the VAT. This is just a glimpse of how the VAT will adversely affect used vehicle customers going forward.”

The Chairman of CMTA Mr. Charaka Perera commented on the alternate proposal by CMTA. “We have proposed the government to charge VAT on the profit margin of the vehicle, which will not result in a major price increase while enabling legitimate companies to continue with their business and the government to earn revenue from VAT of the used vehicle sales. If this issue is not addressed, there could be further job losses in the industry, which had already lost over 15,000 jobs from the imports suspension.”

The membership of the Ceylon Motor Traders’ Association consists of the local authorized agents of the global vehicle manufacturers and the association has been working towards the sustainable development of the automobile industry since its inception in 1919.

December 29, 2023

HNB PLC, recognized as Sri Lanka’s most customer-friendly bank, has reaffirmed its partnership as the official leasing partner for 2023/2024 with the Ceylon Motor Traders Association (CMTA), the representative body of Sri Lanka’s automotive industry.

The renewed strategic collaboration between the two organizations will provide CMTA members with access to a comprehensive range of leasing facilities offered by the bank.

The event was attended by representatives from both HNB and CMTA, who were present to commemorate the renewed partnership.

“In the wake of recent economic challenges, Sri Lanka’s automotive industry is on the path to recovery. Our collaboration with the industry’s representative body ensures robust and streamlined leasing solutions for its members, extending the benefits to our valued HNB customers. This strategic alliance reflects our commitment to supporting key sectors and fostering economic resilience,” said HNB DGM – Retail Banking Group, Sanjay Wijemanne.

“We eagerly anticipate expanding our collaboration with HNB to further enhance access to valuable leasing solutions for our members and beyond. Since our initial partnership, there has undeniably been a positive impact on improving economic efficiency by providing these solutions to both members and customers. As we continue this successful journey, we are committed to driving innovation and fostering financial empowerment for the automotive industry, contributing to sustained economic growth,” commented CMTA Chairman, Charaka Perera.

Founded in 1919, the Ceylon Motor Traders Association (CMTA) is affiliated with the Ceylon Chamber of Commerce and is widely accepted as the voice of the Sri Lankan Automotive Industry. It is the most senior automotive trade association in the region and represents all major international automotive manufacturers through its agents.

Furthermore, the members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, making a talent pool that is trained and employable internationally. Additionally, the CMTA members have over 7,000 direct employees and established island-wide dealer networks under them, comprising more than 5,000 small & medium scale enterprises spread across the island.

With 254 customer centres and 800+ Self Service Devices (SSMs) nationwide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The bank further secured four additional accolades, including being ranked among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.

Additionally, HNB was ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.

June 20, 2023

The Ceylon Motor Traders Association (CMTA), one of the longest standing automotive associations in South Asia, has recently raised concerns regarding the fairness of current import regulations, shedding light on the importation of extravagant items such as televisions and mobile phones, while essential necessities such as a motorcycle remains restricted. The CMTA emphasizes the need for a more equitable import policy that considers the struggles faced by everyday individuals, including parents relying on public transport and small business owners, who are disproportionately affected by these restrictions.

While a significant portion of the population faces difficulties in providing transportation for their families and growing their businesses, it is disconcerting to witness the importation of luxury items that cater exclusively to the elite. The CMTA firmly believes that this disparity in import regulations is unjustified, as it allows the affluent to spend exorbitant amounts on high-end products while denying the import of essential items, such as a simple motorcycle.

The importation of luxury goods, like high-end televisions ranging from US$ 1,000 and above retailing for Rs700,000-1,000,000Mn and more, dual door refrigerators which range above US$900 retailing for Rs1,000,000 to high-end smartphones costing above US$ 1,000 retailing Rs500,000-750,000 In comparison, a 110cc Petrol Scooter would cost approximately US$650 & Three-Wheeler costing US$1,300. It is worth mentioning that several items were recently removed from the import ban list, but it is disheartening to observe that essential items like Motorcycles and Three-Wheelers were not included in the consideration.

The CMTA highlights the need for import regulations that prioritize the welfare and aspirations of the majority, rather than catering solely to the desires of a privileged few. It is crucial to create an environment where equal opportunities and resources are available to all, enabling ordinary citizens to thrive and contribute to the nation’s growth.

The CMTA urges policymakers and authorities to engage in a comprehensive dialogue with the public, taking into account the perspectives of those directly affected by these import restrictions. It is imperative that a more equitable society is created by fostering transparency and inclusivity, where the import regulations align with the needs and aspirations of the people. The CMTA acknowledges the importance of revenue generation and economic progress, but emphasizes that the well-being of citizens should be at the forefront of policy decisions

Founded in 1919, the Ceylon Motor Traders Association (CMTA) is the only Ceylon Chamber of Commerce affiliated trade body that represents vehicle manufacturers through their locally appointed franchise holders (commonly called ‘agents’). It is the most senior automotive trade association in the region. The members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, developing a talent pool that is trained and employable internationally. CMTA members are all audited by the manufacturers they represent, and the vehicles they import are shipped directly from the factory, designed to meet country specific requirements.

June 20, 2023

The Ceylon Motor Traders Association (CMTA) has taken a proactive stance to address recent rumors surrounding the reinstatement of vehicle imports. With a focus on benefiting the economy, meeting mobility needs of masses, and ensuring government revenue, the CMTA has submitted a comprehensive proposal to the relevant authorities.

The proposal, divided into two key parts, first part emphasizes a gradual and staggered approach to lifting the suspension on vehicle imports. The initial phase would involve the reinstatement of two-wheelers and three-wheelers, followed by commercial vehicles, and finally passenger vehicles. The second part of the scheme proposes imports to be subject to an increased tax regime of an additional 130%, with quarterly reductions in the additional tax. This systematic approach aims to bring the tax structure back to its current level within a two-year period, with a 15% reduction each quarter. Such a scheme will severely discourage excessive vehicle imports once the ban is lifted.

One of the critical aspects highlighted by the CMTA is the need for regulated and sustainable import practices that safeguard the country’s foreign exchange reserves. The association firmly opposes the importation of old vehicles, as it will have a negative impact on environment, fuel consumption and also significantly increase the need for importation of spares leading to further outflow of forex. Furthermore, the CMTA discourages the importation of vehicles on supplier credit, as it has the potential to facilitate practices of sending out funds through illegal means to suppliers.

The CMTA’s proposal reflects its commitment to working collaboratively with the relevant authorities to implement a thoughtfully designed framework for vehicle imports. With a focus on long-term sustainability and responsible economic growth, the association seeks to bring about positive changes that benefit the entire nation.

April 6, 2023

The Ceylon Motor Traders Association (CMTA) the most senior automotive association in South Asia, recently concluded another Stakeholder Breakfast Forum, which was held at the Hilton Colombo Residencies. The event was graced by the Ambassador for Japan in Sri Lanka His Excellency Mizukoshi Hideaki as the guest speaker while several senior officials from Ministries, Government Institutions and other stakeholder organizations of the Motor Industry also participated.

Charaka Perera, Chairman of the Ceylon Motor Traders’ Association, addressed the gathering highlighting the need to regulate the motor industry to protect consumers, environment and the economy. Citing many non-essential imports done in the last few years, he suggested that the government should consider a quota system for all such industries and offer a quota for the automobile industry as well, which would also enable to reduce the exorbitantly high used vehicles prices. He stressed that efficient mobility is essential for the functioning of any economy and that 50% of the current vehicle fleet in the country is over 10 years old.

Perera said: “With all due respect these industries, I wish to highlight the import expenditure for the two calendar years of 2020 & 2021 of some of them. It was $421M to import finished clothing & accessories, $739M for Home Appliances & furniture, $310M for seafood $122M for cosmetics & toiletries and the list goes on.

The total forex outflow for these 04 categories alone was $1,592M for two years. Therefore, we believe that there should have been a quota system for most of these industries which could have allowed all of them to survive including ours. Considering the numbers I stated, the auto industry could have easily been allocated at least $400M, which would have been sufficient for the industry to manage our businesses without bleeding, save over 15,000 lost jobs and provide much needed government revenue” Concluding his address, he requested the Ambassadors support to regulate the industry and to support the establishment of an automotive component manufacturing & export industry in the country.

The gathering was then addressed by Ambassador Mizukoshi Hideki. In his address, Ambassador Mizukoshi spoke of the important need of economic and fiscal reforms conditioned by the IMF, as they would help restore the local economy sustainably. He further elaborated on Japan’s wide-ranging assistance to Sri Lanka and his perspectives on the promotion of Japanese investment in Sri Lanka, and the challenges faced by Japanese companies in doing so.

He said “I would like to congratulate Sri Lanka for the successful approval of the IMF facility as it marks a major step for the revitalization of Sri Lanka’s economy. In order to fully restore the economy in a sustainable manner, Sri Lanka needs to implement a series of fiscal and economic reforms agreed with IMF and Japan continues to support such efforts. Now that IMF EFF is approved, I hope that overtime the economy of Sri Lanka would be recovered and Sri Lanka would be ready to lift restrictions for imports of automobiles“

After his address, the Ambassador took part in a Q & A Session which was moderated by Mr. Yasendra Amerasinghe, the Immediate Past Chairman of the CMTA and answered several questions from the moderator and the audience on varied topics. The Ambassador mentioned that supporting the sustainable development including de-carbonization, filling the gaps of different standards of living in different regions, supporting the improvement of investment environment falls within the priorities of Japan for Sri Lanka. Regarding EVs, he commented that if the power is generated with coal, there is not much advantage in electric vehicles and that Sri Lanka should consider decarbonisation in power generation. But he also mentioned that a Japanese company is interested in making electric three wheelers in Sri Lanka as they are mainly for short runs.

Founded in 1920, the Ceylon Motor Traders Association (CMTA) is the only Ceylon Chamber of Commerce affiliated trade body that represents vehicle manufacturers through their locally appointed franchise holders (commonly called ‘agents’). The members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, developing a talent pool that is trained and employable internationally.

January 20, 2023

The Ceylon Motor Traders Association (CMTA) together with the Association of International Marketing Graduates in Sri Lanka (AIMG) recently organized a joint forum titled “Road to Electrification” at Jetwing Colombo, which delved into the future of the EV market in Sri Lanka.

The joint forum was participated by over 100 automotive industry experts, marketers, corporate leaders, executives, and professionals and was aimed at initiating productive discussion within the community and imparting knowledge on the introduction of EV to the Sri Lankan market and its impact on the economy of Sri Lanka.

The speakers at the event included Dr. Harsha Subasinghe, founder of VEGA, the first electric super car made in Sri Lanka; Dr. Niles Perera, logistics specialist from the University of Moratuwa; Ms. Maricor Muzones, regional program development lead for GGGI; and Mr. Lalith De Alwis, additional secretary for the Ministry of Transport and Highways. Mr. Yasendra Amerasinghe, immediate past Chairman of CMTA and CEO of Carmart (Pvt) Ltd, served as the moderator.

A vibrant and thought-provoking panel discussion took place, with the speakers sharing their knowledge of technical expertise, environmental protection, and regulatory policy development requirements to embrace the EV age. While both the pros & cons of the EV rollout was well highlighted, one key factor which was established was the need to strongly regulate the EV eco-system and for the need to allow only manufacturer authorized brand-new electric vehicles to the country.

In his introduction, Dr. Subasinghe stated that “the future for electrically powered vehicles is very bright” and delved into the benefits and issues of EVs that we need to overcome. He further stressed the importance of charging networks and the exportation of charges to other countries, and he shared his wealth of experience on batteries, controllers, etc. Speaking in terms of electricity generation, Dr. Subasinghe delved into SMR (small modular reactor) systems and the possibility of Sri Lanka adapting them.

Ms. Maricor Muzones spoke on GGGI, which is a treaty-based organization operating to get the principle of green growth in Sri Lanka. In her opinion, “Sri Lanka has put in many development policies, out of which the transport policy is now being reviewed for strengthening.” Although the mandate is available, how it should be operationalized is the question. “GGGI is looking at supporting the government and there should be an operational plan’. GGGI’s role is to support the government of Sri Lanka; however, Muzones believes the involvement of the private sector is vital.

Mr. De Alwis, as a Sri Lanka Government representative, stated, “Transport is the key factor to the economy, and there are guidelines being prepared for EV vehicles with the support of the UNDP.” De Alwis also spoke on the financial issues and the national transport action plan that is being prepared, including e-mobility, technology, environmental protection, infrastructure, etc. Concluding, De Alwis spoke on the policy changes needed and highlighted the important factors relating to the awareness of EV. He also stated that by 2030, there will be an action plan in place to develop renewable energy sources up to 70%, and he asked for private sector participation in this effort.

Dr. Niles stated that in transportation there is a lot of movement toward sustainable transportation, mentioning that EV is the fastest developing technology. The aim should be to move faster with better sustainable resources, and in order to do that, it is important to look at the supply chains for electric vehicles, such as mining and so on. He also stated that “there should be a plan to train people, provide charging stations, and build other infrastructure to support electric mobility.” Converting the existing fleet to electric vehicles is not feasible. For the transition, a new fleet of electric vehicles should be brought in, and in terms of energy, his point was to ensure Sri Lanka’s energy security while putting the required regulations and infra-structure in place.

The event concluded with a question-and-answer session. The corporate partners of CMTA and AIMG are SLIC, HNB Leasing, SLT-Mobitel, Sampath Bank & Emerging Media.

Founded in 1919, the Ceylon Motor Traders Association is affiliated with the Ceylon Chamber of Commerce and is widely accepted as the voice of the Sri Lankan automotive industry. It is the most senior automotive trade association in the region and represents all major international automotive manufacturers through its agents.

The Association of International Marketing Graduates Sri Lanka (AIMGSL) was established in July 2020 by veterans of the marketing industry boasting over three decades of expertise and experience, with its main focus being to create a dynamic and professional association with international marketing qualifications, connecting young and senior members to create a platform for knowledge sharing via workshops, programs, and various other activities. Its objective remains to aid Sri Lanka-based marketers to stay at the forefront of their professions and the market.

October 24, 2022

Sri Lank’s most customer-friendly bank, HNB PLC, signed on as the official leasing partner to the Ceylon Motor Traders Association (CMTA), the representative body of Sri Lanka’s automotive industry.

The strategic tie-up between the two organizations will offer CMTA members access to a wide range of leasing facilities provided by the bank. . HNB DGM Retail & SME Banking Sanjay Wijemanne and CMTA Chairman Charaka Perera were present to commemorate the new partnership.

“To overcome the current economic situation, we have initiated several new activities to develop the automotive industry. This is one such initiative, and although we currently face challenging times, partnerships of this nature would provide comprehensive leasing solutions for members and, by extension, their customers,” HNB DGM Retail & SME Banking Sanjay Wijemanne said.

“Transport is a capital good that often impacts the efficiency of a manufactured product. Greater transport efficiency will have a wider impact on enhancing the efficiency of the economy. Moreover, given the present situation in the country, amidst the import ban, collaborations like this are a vital intervention to support and solve disruptions in the industry,” CMTA Chairman Charaka Perera said.

Founded in 1919, the Ceylon Motor Traders Association is affiliated with the Ceylon Chamber of Commerce and is widely accepted as the voice of the Sri Lankan Automotive Industry. It is the most senior automotive trade association in the region and represents all major international automotive manufacturers through its agents.

October 7, 2022

The Ceylon Motor Traders Association (CMTA), the most senior automotive association in South Asia, have raised serious concerns about the importation of used Electric Vehicles to Sri Lanka. In order to minimize the negative impact to the consumer, environment, society, and the economy, it is imperative that the country imports EVs which are directly shipped by the manufacturer with the recommendation for this tropical climate.

EVs built for colder climates may not be suitable for tropical regions as they might not have the required HV battery cooling systems. The CMTA further warns that EVs purchased and imported through importers who are not the agents for the respective brand, might not come with a proper warranty cover to protect the consumer. Used EVs that are shipped over to Sri Lanka may have HV batteries which could have damages that is not visible externally. Manufacturers’ warranties are a minimum of 5 years for passenger cars and 3 years for two-wheelers, in order to protect the consumer’s interest.

Another one of the CMTA’s biggest concerns is the disposal High Voltage (HV) batteries, as it can be extremely hazardous to both the environment and ground water systems, if not disposed of properly. Therefore, the CMTA recommends that EV importers should be signed up with a battery recycling/ re-exporting company Due to the impact that improper disposing of HV batteries and other components may cause, it is also important to establish a legal framework to prosecute people who do so.

It is important to note that the landed cost of an HV battery could vary from Rs.5 million upwards for most EVs, or approximately 50% of the CIF value of the vehicle. It is therefore imperative that any EVs imported into the country must be imported within 6 months of manufacture, as it would negate the negative impacts HV batteries might have.

Charaka Perera, Chairman of the CMTA said, ‘It is imperative that we encourage the importation of Brand New EVs directly from the manufacturer as opposed to used ones. Vehicle electrification will bode very well for Sri Lanka, and we must ensure that the necessary steps are taken to ensure these vehicles are imported properly and that they do not pose environmental or economic threat to the country.”

The CMTA is the only association in the country that has access to global manufacturers of EVs and represents them in Sri Lanka and urges the public to educate themselves of all aspects prior to purchasing an EV. Such awareness will enable them from facing issues which were faced by consumers who bought certain EV models during the heavy influx of EVs in 2014. Additionally, CMTA has entered strategic partnerships with Sri Lanka Insurance Corporation (SLIC), HNB Leasing, and SLT-Mobitel as Annual Corporate Partners of CMTA for planned future initiatives.

Founded in 1919, the Ceylon Motor Traders Association (CMTA) is the only trade body that represents global vehicle manufacturers through their locally appointed franchise holders (commonly called ‘Local agents/ Distributors’). CMTA is affiliated to the Ceylon Chamber of Commerce and is the most senior automotive trade association in the region. The members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, developing a talent pool that is trained and employable internationally. CMTA members are all audited by the manufacturers they represent, and the vehicles they import are shipped directly from the factory, designed to meet country specific requirements.

July 4, 2022

The Ceylon Motor Trader’s Association (CMTA) affiliated to the Ceylon Chamber of Commerce and one of the oldest automotive trade associations in South Asia comprising of companies who are franchise holders of global automobile manufacturers, held its 102^nd Annual General Meeting on 29^th June 2022 as a virtual event, due to the mobility issues resulting from the current fuel shortage in the country.

Mr. Charaka Perera, Director/COO, Stafford Motor Co (Pvt) Ltd was elected as the Chairman, while Mr. Virann De Zoysa – General Manager, Associated Motorways (Pvt) Ltd was elected as Senior Vice Chairman and Mr. Andrew Perera – Managing Director, Kia Motors Lanka Ltd, was elected as Vice Chairman. Mr. Yasendra Amerasinghe, Director/CEO of Carmart (Pvt) Ltd is the Immediate Past Chairman of the Association.

The following were elected to the Executive Committee for the year 2022/2023; Mr. Bri Ponnambalam – Director, McLarens Lubricants (Pvt) Ltd, Mr. Reeza Rauf – Director Sales & Marketing, Senok Trade Combine Pvt Ltd, Mr. Manohara Atukorala – Managing Director/CEO, Toyota Lanka (Pvt) Ltd, Mr. Gihan Pilapitiya – General Manager, United Motors Lanka PLC., Mr. Sirhan Fernando – Head of Sales and Marketing of Drive One (Pvt) Ltd, Mr. Rajeev Aloysius – Joint Managing Director, The Autodrome PLC, Mr. Ravi Perera – CEO of Access Motors (Pvt) Ltd, Mr. Priyantha Perera – Executive Director, Sathosa Motors PLC, Mr. Lakmal De Silva – Deputy General Manager of David Pieris Motor Co Ltd, Mr. Tharanga Goonewardena – General Manager, Diesel & Motor Engineering Co PLC and Mr. Teranka Carim – CEO – Automobiles, IWS Holdings (Pvt) Ltd. The Secretariat of the CMTA is the Ceylon Chamber of Commerce represented by Mr. Rohan Casie-Chetty – Assistant Secretary General of CCC.

Addressing the members in his outgoing speech, Mr. Yasendra Amerasinghe stated that despite of the grave challenges that the CMTA members had faced over the past two years great strides have been set in building a solid foundation for the future of the Association.

The CMTA, with over 100-years of heritage, is the official trade body of Sri Lanka’s automotive industry and has been the driving force behind the industry for years. The CMTA has been at the forefront of sustainable growth of Sri Lanka’s motor industry, which has contributed greatly to the country’s economy and created a platform for employment both locally and abroad. The member companies of CMTA together had created around 30,000 direct and indirect jobs within their companies and its 6,000 plus dealer network, which are SME’s established across the country. The motor trade contributed over Rs.130Bn to the treasury in excise duty alone in 2019, which accounted for over 6.8% of government revenue.

The new Chairman and Committee have been appointed during the most challenging time for the entire motor industry, as the restriction on imports still continues and the importation of spare parts also has also been hampered due to the forex crisis, which is a looming threat to the entire transportation system in the country.

In his address to the members, Mr. Charaka Perera, quoted “Although the motor industry and our whole country is facing its worst crisis in its recent history, I strongly believe that this would be the ideal time to strengthen the basics and gear ourselves to be ready for the post recovery period. As the Chairman of the CMTA, I promise that I will do everything in my capacity to uplift and guide the motor trade through the current crisis”. Unquote.

Older Posts

CMTA Delegation Invited by SIAM to meet Indian Government Officials

VAT on used vehicles hurts the common man and creates a black market – CMTA

HNB renews annual corporate leasing partnership with CMTA for 23/24

CMTA Raises Concerns about Disparities in Import Regulations and Policies

CMTA proposes Sustainable Approach to Vehicle Imports

Japanese Ambassador Guest Speaker at the CMTA Breakfast Forum

Panel discussion by CMTA and AIMG on Electric Vehicle market introduction

HNB signs on as annual corporate leasing partner for CMTA

CMTA warns consumers about impact of used Electric Vehicles in Sri Lanka

The Ceylon Motor Traders Association holds 102nd Annual General Meeting