KARACHI: Despite decease in duty and taxes rates on used cars import, the dealers have failed to bring down prices although used cars import has witnessed a drastic surge.
As per reports, about 9,569 used vehicles were imported in the first three months of fiscal year 2014-15 as compared to 5,863 units in the same period last year, showing a huge growth of 63 per cent.
According to Pakistan Association of Automotive Parts and Accessories Manufacturers(PAAPAM), though import of used cars is allowed only to Pakistanis living abroad under transfer of residence, personal baggage and gift schemes under import policy order, this policy is being massively abused by used car traders with the connivance of officials concerned. The association said that the prices of used cars could not be brought down for various reasons.
According an office-bearer of the association, despite a huge relief, the price of 1300cc three-year-old Honda Insight which was available for Rs 1.5m in January 2013 witnessed an increase of 27pc and was now being sold at Rs1.9m. Similarly, price of three-year-old 1800cc Toyota Prius was increased from Rs1.9m in January 2013 to Rs 2.5m in September last. He stressed that the FBR should conduct strict audit of dealers as they were making huge profits.
