In the age of inflation forget about the new car dealers it’s the used car dealers who have started falling of the market in Jamaica. There were used to be a union of 70 Used Car Dealers, it has now ending up to only 55. Most of them blame their dropping off from the business on stringent government policies. Various import duties & taxes levied by government on used cars have inflated the price of vehicles by 180 percent. Another rule which has hit them hard is permitting only those cars which have been in use less than 3 years. Even in international market with Japanese yen getting stronger against US Dollar has not helped the business. Even developed countries have started a market of second hand cars, they are also having lesser import duties.
One of the Used Car Dealers Frank Pollard has said he has been in this business for past 15 years & has never seen such a lull in the business. Jamaican’s love driving cars, but now price rise up to 50% even in used car segment has made this love a distant dream. Certain models like SUVs they have stopped importing as there is no scope of selling them.
Lynavalle Hamilton the president of Jamaica Used Car Dealers Association (JUCDA) has said they can’t do much about rules & regulations of other countries. However his union is contemplating to have a dialogue with the government about the situation in their country. Cost cutting in other areas of business is also been tried to keep the price as much low as possible.For the consumers having a car has just become a desire from their wish. As of now only thing to be seen whether any steps will be taken by government to provide some respite to the Used Car dealers grant the consumers their wish to at least have a used car.
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