Senok Trade Combine, which has interests in automobiles, mining, hydro, tea, travels and energy, was also selected by the Sri Lanka government to provide a taxi service, which will employ 100 taxis.
Fernando says the company has to import cars for the service but hopes to make it available in Colombo within the year. Buyers now pay more than double the actual price of a car, an official with Senok Automobiles said Tuesday.
We have managed to keep selling but the future is going to be tough,†Rajieve Fernando, General Manager of the Audi division of Senok told LBO.
The company sells high-end luxury cars Audi, Subaru and Volkswagen, with Fernando saying it is a struggle to keep up sales margins as the government slaps on duties at such a rapid pace.
Buyers pay up to 225 percent of the Cost Insurance Freight (CIF) price at the time of purchase. This is unfair. The government introduces duties or le