Prime Minister Dr Keith Rowley has given his assurance that vehicles more than four years old that are already on the port or intransit will be allowed to be cleared.
This was revealed by President of the T&T Automotive Dealers Association (TTADA) Visham Babwah. Speaking to the Sunday Guardian yesterday, Babwah said, “The Prime Minister contacted me and confirmed orders that we have, we will be able to import them and that will not be affected.
“In a text message the Prime Minister sent me Wednesday night, he said, ‘It is a pity that it has not been made clear up front that cars on the water or contract confirmed (cars) will not be affected’.” Babwah said he could not give a figure for the amount of cars over four years that had landed or were intransit. People who placed their orders for vehicles last year will not lose their money, Babwah said.
Inshan Ishmael, the owner of ROC Roll-on Roll-off used car company, at Bamboo #2 in Valsayn, said there was a silver lining in this situation—people used to pay approximately US$8,500 for a 2012 Wingroad last year, and now Japanese car dealers have significantly reduced their mark-ups as a result of the new measures against foreign-used vehicles being put in place by the T&T Government. Ishmael said this will be a benefit to people who would be getting a newer car at a significantly lower price now.
He said there would be just a few hundred cars coming in each shipment. Ishmael said some dealers might have used up their quotas already and some dealers definitely had respect for the law in regards to the quota system. He said he was one of those people that put country before profit. Ishmael said the reality was foreign exchange was an issue for everyone.
He said if his foreign exchange quota was to be utilised for the health service or something more important to help build the country, he had absolutely no problem with that.
Ishmael said that he preferred to sacrifice, and had given his staff the assurance that no one would be laid off.
Data on cars
According to data obtained from the Central Bank of T&T, the number of new cars purchased in 2013 was 17,248. This figure increased by 1,870 in 2014, taking the total to 19,118 vehicles purchased that year, while 18,765 new vehicles were purchased in 2015.
Transport Commissioner Wayne Richards said the new motor vehicle sales figure combined with the registered foreign used-car dealers' annual quota of 13,500 vehicles, plus individuals importing their own vehicles accounted for the 40,000 cars that are licensed in the country every year.