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Colombia: government scheme has little effect on car sales

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Despite the announcement a month earlier by the government that it would offer a special interest rate on locally assembled vehicles, new car sales in Colombia fell by nearly 2% month on month to 15,324 units in March. Passenger car sales are down by 17.8 percent year on year. Analysts believe the government scheme did little to help car sales because taxes are still too high. Colombia is said to levy the highest tariffs and VAT levels in the region. Colombia is 49th out of 57 countries in the world with the most expensive cars.
|  21/04/2009  | 
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