A Japanese used car supplier says if the T&T Government continues with its ban on the importation of five and six-year-old vehicles, the country’s foreign used industry will be finished.
In an e-mail to local dealers, managing director of Sayuri International Saman Priyankara called on dealers to come together and appeal to Government to not effect such a rushed policy. He said many dealers have already purchased and stocked vehicles in Japan in recent weeks and were waiting for Government to issue import licences.
Trade Minister Paula Gopee-Scoon on Friday announced a new policy which bars the importation of gasoline-powered vehicles more than four years old. Previously, foreign used car dealers were allowed to import vehicles that were up to six years old.
Priyankara said some have paid their 30 per cent deposits for the vehicles and asked, “When Government says ‘law effected from today,’ what will happen for those people’s vehicles?”
Priyankara said: “All the dealers must get together and discuss with the Government to not to put this kind of law overnight. I hope you all will understand that if this new law is effected, our industry will be finished in Trinidad because the year 2012 vehicles’ prices are three to four times higher than 2010 model vehicles and there are not much vehicles in the market.”
He said he understands that there is still a chance for discussion with Government with the hope of finding a solution. He asked dealers to join T&T Automotive Dealers Association (TTADA) president Visham Babwah on the matter.
MSJ: Need for a fair policy
Movement for Social Justice (MSJ) political leader David Abdulah says there needs to be a general policy for the motor vehicle industry that would be fair and equitable for all involved.
Abdulah said the problems with the industry is that is consumes a lot of foreign exchange dollars, which the country is in shortage, and it creates traffic congestion. He said successive governments have been back and forth on the age limit for importing used vehicles.
Although not proposing, he said a general policy could result in higher taxes on new vehicles and no taxes on hybrids so that people will be encouraged to used Compressed Natural Gas (CNG). This policy should also include regulations for used vehicles.
“What the MSJ is saying is that rather than having a policy on one aspect of the vehicle industry, we really should have a comprehensive policy on the entire motor vehicle industry, which then is fair and equitable, and addresses problems of consumption of foreign exchange on motor vehicles and congestion on our roads,” Abdulah said.