BMW sees potential for growth in Sri Lanka

ECONOMYNEXT – Prestige Automobile (Pvt) Ltd, the agent for Germany-based BMW says the brand sees growth opportunities in Sri Lanka.

Expressing his appreciation of the long-standing relationship with Prestige Automobiles (Pvt) Ltd, Mr. ChristopherWehner, Managing Director of BMW Group Asia said,

“Sri Lanka is a fast-growing market with immense potential,” Christopher Wehner, Managing Director of BMW Group Asia was quoted as saying after a recent visit to the island.

“Therefore, we are delighted to continue our successful collaboration with Prestige Automobile to further strengthen the brand’s presence in the country.”

Prestige automobiles, which has held the agency for 24 years said it had set up a service and repair centre using tools and software certified by BMW.

BMW Group Asia is planning to release several special edition cars to the local market to market 25 years of the agency, Prestige Automobiles said.

Sri Lanka’s auto market was hit by trade restrictions slapped by the central bank after it printed money and an unstable pegged exchanged rate collapsed.

Some of the restrictions had since been relaxed.

There have been calls to revamp the central bank’s ustable ‘flexible exchange rate’ soft-peg regime either with policy consistent with a stable peg or a genuine floating rate with inflation targeting to end monetary instability. (Colombo/Oct09/2019)

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