Beware of the surging frauds in the used-vehicle market – CMTA dailynews.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailynews.lk Daily Mail and Mail on Sunday newspapers.
The Ceylon Motor Traders Association (CMTA), Sri Lanka’s automotive association has raised concerns over the heavily persistent fraudulent acts associated with Sri Lanka’s used-vehicle market.
The association states that the vehicle customers fall prey to a number of frauds including odometer frauds, vehicles restored with counterfeit spare parts and vehicles with forged documents. Due to the ban of the brand new and re-conditioned vehicles, the market value of used vehicles is on an unprecedented rise, giving vent to more and more fraudulent acts.
The Chairman
of the CMTA, Yasendra Amerasinghe said, “We are highly concerned at the
moment with the frauds associated with
December, 16, 2020
The Ceylon Motor Traders Association (CMTA), Sri Lanka’s leading automotive association with a 100-year history, states that especially due to the current import suspension, vehicle owners should maintain their vehicles according to manufacturer guidelines in order to increase the market value. The association which represents the authorized agents of global auto manufacturers in Sri Lanka is of the view that vehicle owners need to exercise great care when choosing a service provider for their valuable vehicles.
The Chairman of the CMTA, Yasendra Amerasinghe said, “As a responsible national trade association, we are bound to protect vehicle owners, which is why we urge them to choose only authorized agents. It is our responsibility to guide them towards authorized agents who professionally and responsibly handle all vehicle repairs including accident repairs, genuine spare parts replacements, vehicle check-ups and a full packages of services under one roof.