Rough road ahead for car industry
Even with the well received cut in excise taxes, the local automobile industry remains under pressure, a senior official has reported.
“The market has not improved and the industry remains very strained, despite Government’s excise tax reductions in an effort to stimulate sales,” says chief executive officer of McEnearney Quality Incorporated (MQI), Alex Mckenzie.
Addressing the company’s annual Christmas awards ceremony held in the BMW Showroom in Wildey last Thursday, Mckenzie said the industry understood Government was constrained on giving concessions and was thankful for the reduction.
He pointed out that the global economy continued to struggle, with the Eurozone, the largest economic trading zone in the world, experiencing problems.