Vehicle sales in the slow lane despite impending tax hike

[geovalin]

Ayanna Runcie

Automobile dealers who expected a surge in sales ahead of a scheduled April 1 tax hike on new and used car imports have said that vehicle sales have been surprisingly flat this month.

Pily Wong, CEO of Hung Hiep, the authorised distributor of Volkswagen in Cambodia, said yesterday there had been no noticeable increase in car sales at his showroom despite the impending tax, which will tack an additional 13 per cent onto the total tax bill of new vehicles.

“It’s curious that sales haven’t gone up,” he said. “Even I asked some colleagues in the industry and they also don’t see a surge in people coming to buy cars because of the [imminent] tax increase.”

read more http://www.phnompenhpost.com/business/vehicle-sales-slow-lane-despite-impending-tax-hike

[elgordo38]

Hmm seems their lines of credit could be maxed out!! Maybe the credit gravy train is coming to a screaming halt. The rebate on cars from the last government could be still overhanging the market. I see few red plates on new cars.

[Tomtomtom69]

Hmm seems their lines of credit could be maxed out!! Maybe the credit gravy train is coming to a screaming halt. The rebate on cars from the last government could be still overhanging the market. I see few red plates on new cars.

This article is talking about Cambodia not Thailand.