New import tax may drive down car sales, says car dealers in Jamaica
Jamaica government’s proposed increase in taxes on motor-vehicle imports has raised fears of a downturn in the automobile business, whose members say the likely consequence will be a hike in automobile prices and less affordable vehicles.
“It definitely will have negative effects in the sale of motor vehicles and also as it relates to the price the consumer has to pay,” said president of the Jamaica Automobile Dealers’ Association, Kent Lacroix.
That view was echoed by president of the Jamaica Used Car Dealers’ Association, Ken Shaw. The Jamaica Chamber of Commerce has also weighed in.
President Mark Myers of Chamber says the cost of cars with 2 liter engines, would likely rise 11 percent as a result of the assitional tax.
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