AMW puts on hold investment plan

Associated Motor Ways (AMW) has put on hold a two and a half to three billion rupee investment until a clear policy direction is obtained from the Government for the motor vehicle industry, AMW, Managing Director Samantha Rajapaksa said.

He said that the company is hoping that there will be a revision in the tax structure for the motor vehicle industry which will boost sales. Sale of motor vehicles had seen a drastic drop due to high taxes.

Motor vehicle sales plummeted by over 50 percent this year due to the high duty on imported vehicles. "Sale of vehicles has declined by around 50 percent and there won't be an improvement until there is a revision in the taxes," Rajapaksa said.

AMW entered into a strategic partnership with taxi services to deploy its fleet of Suzuki Maruti Alto vehicles for passenger transportation.

The All Island Taxi Drivers and Owners Association (AITDOA), President Kelum Jayasumana said that the partnership will help enhance the standard of safety and comfort in public transportation.

"AMW, a pioneer in the motor vehicles industry in Sri Lanka is the sole distributor of Suzuki Maruti cars in the country.

Suzuki Maruti Alto is the highest selling car worldwide with over two million units being sold.

- LF