The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

FREEPORT-based auto dealers are hoping that write-ups from the recent Auto Show translate into more sales, one describing the industry’s current duty rates/structure on vehicle imports as an “uphill battle”.

Freeport Jet Wash Auto Mart manager, Larry Albury, told this newspaper that there was significant traffic generated by the seventh annual Auto Show on Grand Bahama last weekend.

“I think it was a great success and we wait to hear from the banks who qualified,” he said. “We saw a great bit of traffic. We had a great turnout from the banks and the insurance companies as well. We had quite a few write-ups and we are waiting on the banks to see who was approved. Speaking to the banks that were there it was noted that a lot of people are interested in purchasing, but some people don’t qualify for the loan.”

Mr Albury added: “Auto sales are up and down. We are still having a fight with new duty rates. The trucks used to be 52 per cent duty, and now they are 85 per cent duty. It’s an uphill battle with the new duty rates. We don’t live in fishing villages any more. A vehicle is not a luxury item; it’s a necessity.”

Mr Albury argued that the previous duty structure on vehicle imports made more sense. “It made sense the way it was done before, the lesser the vehicle the lesser duty rate, so therefore you have lower, middle and high income people,” he added.

“The people who were going to buy the most expensive cars, their duty rate was more so they could afford more. It threw that out the window and now everyone is paying premium duty rates. Trucks are used for working, and it caused people who deliver stuff to go up on their rates, so everything got more expensive for everyone.”