> Used cars turn to gold as Sri Lanka economy skids on the edge / V000_9WL4UX
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Used cars turn to gold as Sri Lanka economy skids on the edge / V000_9WL4UX
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Description
Sri Lanka's economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house in a nice area.
The island nation of 22 million is on the brink of bankruptcy, inflation is red hot and the government has barred a range of "non-essential" imports to save dollars needed to buy food, medicine and fuel.
In the car market, this two-year ban has kept factory-fresh automobiles off local roads, forcing desperate buyers to pay some of the world's highest prices for beaten-up compacts and no-frills family sedans.
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