Motor industry bosses appeal for tax reduction as car sales nosedive

Motor industry bosses have urged the government to slash vehicle registration tax after a massive slump in car registrations this year.Meanwhile registrations year to date are down 28.6% on the same period last year in what has been a massive hit to the industry.

“This has led a year to date reduction of 29% in new cars sales, and a 43% reduction over the last 4 years. Used car imports have also seen a decrease of 16.1% going from 9,706 in August last year to just 8,143 in August 2020. While year to date imports are down 45.1% on 2019 . “With Budget 2021 only weeks away, now is the time for a significant reduction in Vehicle Registration Tax .

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