Second hand car prices to go up

Second hand car prices to go up

Coast region car importers have opposed the Excise Duty Bill 2015, saying that if President Uhuru Kenyatta signs it into law, it will slap huge taxes on second-hand vehicles.

Led by Car Importers National Chair Peter Otieno, the importers urged President Kenyatta to have more consultations with key players before signing the Bill.

The association maintained the move by the government will double charges on imported second-hand vehicles and therefore automatically push-up car prices by 200,000 shillings.

The traders now want fresh amendments to be done on the Bill, claiming the number of used vehicles being imported into the country may decrease from the current 9,000 units, per month, to 4,000, because many Kenyans will not be able to meet the expenses.

According to Otieno, a Nissan X-Trail that now costs Ksh. 1.5 million will go for Ksh 1.7 million, while a vitz model which now costs Ksh.700,000 will end up selling at Ksh 1.1 million.

Tags:

kenya President Uhuru Kenyatta Cars import prices second hand cars Excise Duty Bill 2015

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