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Duties weigh down car sales

Md Hasan
Car sales dropped around 60 percent in the last three months as prices rose above the budgets of many prospective buyers due to high import duties.
Industry insiders said the sales volume dropped to 15-17 cars a month at each showroom, from 50-60 in the June-July period. More than 100 showrooms are selling cars at various points across Dhaka.
But many showrooms are still selling cars imported before the new duty structure came into effect in line with the 2009-10 budget. "We are still selling cars that were imported before the budget, said Abdul Haque, managing director of Haq s Bay, one of the largest car sellers in Dhaka.
According to Bangladesh Road Transport Authority (BRIA), car sales jumped significantly in the first seven months of 2009 (January-July).
BRTA statistics show car registration shot up significantly in January-July to 21,102 cars, while the total number registered in 2008 was 23,464.
"Sales went up prior to the budget as customers feared high duties," said Habibullah Dawn, president of Bangladesh Reconditioned
Vehicles Importers and Dealers Association (Barvida).
Three months ago, he said, sellers sold 50 to 60 cars a month on average, which now dropped to 15- J 7. "The prices of mid-ranged cars soared an additional Tk 5-6 lakh. The high duties on cars mainly cut sales."
He said customers have to pay a maximum ofTk 6 lakh in excess to buy up to a l,500cc reconditioned car, which prospective middleclass customers cannot afford. A car priced at Tk 8 lakh to Tk 10 lakh now sells at Tk 14 lakh to Tk 17 lakh, he said.
The budget for fiscal 2009-10 set 30 percent duties on the import of cars up to 1,500cc. The
duty for l,501cc to 2,000cc cars has been set at 100 percent, 2,001cc to 2,750cc cars at 250 percent and 2,750 cc to 4,000cc cars at 350 percent. Importers for cars above 4,000cc will have to pay 500 percent duties.
Microbus importers of up to l,800cc will have to pay 20 percent duties. However, hybrid cars of up to 2,000cc have been kept away from the tax structure.
Abdul Haque said high-end car sales have dropped significantly. Importers are not ready to import high-end cars, as corporate customers are also reluctant to invest there.
"We are selling the Nissan Teana brand at a maximum of Tk 35 lakh, which we imported before the budget. But not many customers will buy the brand if imported in line with the new duty. " A Nissan Teana will costTk 55 lakh as per the new duty structure.
M Sal ah uddin, president of Bangladesh Automobile Dealers Association (BADA), an organisation of importers of new cars, said: "We are facing the same scenario in selling new cars."
According to BRTA, more than 12 lakh cars have registered so far, while 2.6 lakh cars are being used for private purposes.
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