Dealers object to policy to regulate foreign used car industry

Some of the participants at the meeting

The Ministry of Trade held a meeting on Tuesday with key stakeholders in the auto sector to get their input on proposed initiatives in the Revised Policy to Regulate the Foreign Used Car industry in Trinidad and Tobago (2013-2017).

Among those attending were representatives from the Trinidad and Tobago Automobile Dealers Association (TTADA), Customs and Excise Division, Port Authority of Trinidad and Tobago (PATT), the Trinidad and Tobago Bureau of Standards (TTBS), Ministry of Transport and Ministry of Foreign Affairs.

The Ministry has proposed a temporary suspension of the quota allocation system until 2014 at which time the ministry will review the proposal. 

This current quota is for 13,500 cars annually to be shared among 200 dealers. In December 2012, the Ministry advertised for new persons to apply for foreign used car dealerships.

The majority of dealers present said they do not support the proposed temporary suspension of the quota. They also expressed concern about the proposed introduction of new dealers into the Industry.

The Ministry said it is reviewing the matters raised during the discussions and has promised to the Executive of TTADA that it would try to resolve their concerns within the next two weeks.