Bridgetown Barbados - Used car crash
SEVERAL USED car dealers, who once imported the popular reconditioned vehicles, have closed their car dealerships.
And Barbadians shopping for such vehicles are finding them more and more difficult to come by.
SUNDAY SUN investigations have revealed that over the last two years the once vibrant reconditioned market has almost come to a screeching halt.
The reason is, according to the dealers, that they have been unable to continue importing used vehicles from Japan due to Government’s imposed environmental levy which was increased over the years from $1 200 to $2 000 and then to $4 000 last July.
This latest increase effectively placed an additional cost of $7 000 on the price of a used vehicle when added to the excise and Value Added Tax.
Dealers said business had become unprofitable and non-competitive since it was unrealistic to pass on these high costs to consumers. READ MORE…