'Market distortion' fear despite 3.6m auto revenue rise

Wed, Feb 23rd 2011, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

A leading car dealer again questioned whether the Government had "created more problems than they've bargained for" in the long-term through "distorting the market" via the 2010-2011 Budget tax increases, as the Prime Minister yesterday trumpeted a $3.6 million revenue increase from auto import duties.

Rick Lowe, sales and operations at Nassau Motor Company (NMC), said he had no way to dispute the Prime Minister's mid-term Budget assertions in the House of Assembly, but questioned whether the revenue increase had resulted from an influx of cheaper used cars at the expense of new car inventories.

The higher prices resulting fr ...

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