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    LT
    05/01/2018
    Antigua and Barbuda used car market

    With increase in the population of the country, there is an increase in the numbers of people wanting to buy a vehicle. Many people prefer to purchase a used vehicle rather than a new one because of the price difference. The Caribbean region is an emerging importer of Japanese used cars and being its island, many vehicles in Antigua and Barbuda are imported from Japan. In the eastern arc of the Leeward Islands of the Lesser Antilles, lies Antigua at the southeast of Puerto Rico and Barbuda at north of Antigua.
    In the island, it is quite difficult to afford a brand new vehicle, thus many people go with the used ones. Most vehicles on the road are imported ones, mainly from Japan. While offering used vehicles, Japanese market gives the best combination in price, economy, quality standard and flexibility. There are some Japanese exporters who are in this business from many years and are known for offering vehicles that meet customer’s demand and requirements.

    Antigua and Barbuda has banned the importation of used vehicles in the country that are older than five years in order to reduce the environmental risks. However, the ban hasn’t hampered the market of used vehicles. The used car market is now not only larger in size, but also growing at a rate faster than the new car market while undergoing structural changes and getting more organized. In years to come, there are assumptions that the used car market will increase a lot. The country permits importation of right-hand drive vehicles. Used vehicle importers should provide the necessary documents required by customs for vehicle importation along with the required duties and taxes.

    During the past few years, the market of new car sales has been in sharp decline. In the year 2010 only, it witnessed the decline of 70% from 2008 levels. People are falling for used vehicles as they get a reliable vehicle at reasonable rates. When compared with the volume of used vehicle making their way to the country, it is quite evident that Antigua and Barbuda is a profitable market. For instance, in the year 2014, around 1,237 used vehicles were imported into the country, compared to 797 units in the year 2013. There is no second thought that this small eastern Caribbean island-nation offers very pleasant and business like atmosphere to foreign traders.

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