Car imports soar after duty slash

The Department of Motor Vehicles yesterday said import of cars has seen a dramatic increase with the reduction of vehicle import duty. According to Department statistics, 5,762 cars were registered by the Department last year while the Department has registered more than 4,079 cars upto August 1 this year.

The number of vehicle imports also rose last month when compared to the figures in the corresponding period last year. The Department registered 17,636 vehicles in July last year while this figure rose to 33,421 in July this year. Over 17,000 motorcycles were imported last month and the total number of vehicle imports up to August 1, 2010 exceeded 185,000, sources said.