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Auto sales rising in Malta

Wednesday, February 20th, 2008

The number of motor vehicles in Malta rose by 1,767 in the fourth quarter of 2007 as the number of newly-registered vehicles continued to outstrip the number of vehicles taken off the roads, according to recent media reports on the Internet.
New vehicle licenses actually rose by 3,138 between October and December last year.

59 percent vehicles were new and the rest were imported second hand vehicles.
On annual basis, the number of new vehicle licenses in Malta reached 12,589 in 2007, a drop of 1.8 percent from 2006.

There was a drop of 1.3 percent in new vehicles and 2.5 percent in imported used vehicles.

Second-hand car buyers in Malta demand tax refunds

Thursday, February 14th, 2008

Second hand car buyers in Malta recently filed a judicial protest in the Civil Court claiming that the imposition of vehicle registration tax and VAT on imported second-hand cars was in violation of EU law.

The four men said the money requested of them by the authorities were in violation of the EU Treaty.

In fact, the European Commission had already warned the government of Malta that the imposition of registration tax and VAT on the importation of second-hand vehicles was illegal and abusive.

Israel plan an electric car network by 2011

Tuesday, January 15th, 2008

Israel’s government recently endorsed the ambitious plan of a private entrepreneur to install the world’s first electric car network here by 2011, with half a million recharging stations to crisscross the tiny nation.
Supporters hailed the undertaking as a bold step in the battle against global warming and energy dependency, but skeptics warned that much could still go wrong along the way.

In a signing ceremony with the Renault-Nissan Alliance under the slogan “Transportation without fuel, making peace between transportation and the environment” Israel’s leaders pledged to provide tax incentives to customers to make Israel’s cars fuel-free.

The project is a joint venture between Renault-Nissan, which will provide the electric vehicles, and the Silicon Valley-based startup Project Better Place, which will operate the recharging grid.

The replacement and charging of the lithium-ion batteries is supposed to work like that of a cell phone battery.

The initiative is the brainchild of Shai Agassi, a 39-year-old Israeli-American entrepreneur and high-tech star, who raised $200 million to get the project off the ground.

Dubai becomes fast growing market for automotive trade

Wednesday, May 30th, 2007

Dubai’s imports of vehicles and automobile parts exceed Dh17 billion per year, according to data complied by the Dubai chamber of Commerce and Industry (DCCI).

Trade in the automotive sector amounted to Dh24.4 billion in 2005 and imports accounted for 70.6 per cent of the total.

The share of re-exports was 29.1%, according to the DCCI survey.

Vehicles, both passenger and commercial, accounted for 74.6% of the total automotive trade, while spare parts and accessories had 22.3% share.

Imports grew 30% annually between 2001 and 2005, while the re-export business increased 60% during 5 years.

Qatar, Libya, Iran, Afghanistan and Iraq were top destinations for vehicles arriving in the emirate for re-export,while Iran,

Japanese cars make up 70% of oil-rich Arabic countries’ import market

Wednesday, February 7th, 2007

The Gulf car market is dominated by Japanese manufacturers, who supply about 70% of the total cars imported into the region, according to industry figures.

The six-member Gulf Cooperation Council has an estimated six million vehicles, with 1.4 million in the UAE.

The UAE car market is growing at an average annual rate of 10 per cent, organizers of Dubai’s leading auto sports exhibition said.

The UAE is also the world’s second-largest per capita market for four-wheel drive vehicles after Australia.

High per capita incomes, booming economies and a growing population are fuelling the growth of the Gulf automotive sector, said International Expo Consults, who are organizing the March 12-14 Automobile Aftermarket Middle East.

“The GCC automobile industry relies on imports with Japan accounting for 65-70 percent of sales, Europe 15-20 percent, the US contributing 6.5 per cent and the rest coming from other countries,” the company said in a statement.