The growth of the automobile industry is a key factor for the growth, employment, innovation and numerous industries of a nation. In the same way, Guyana’s auto industry has contributed towards the nation growth. In the last few years, the sector has seen the significant development. Guyana is the only Caribbean nation that isn’t an island.
As the price difference between new cars and used ones is quite large, thus Guyanese prefer to go with the used cars. The local market of the country is ruled by Japan. Reconditioned cars from Japan accounts for the maximum in the country. The high demand for Japanese used vehicles is directly linked to easy financing.
Used cars have attracted large numbers of citizens of Guyana. Easy importation, affordable prices, and quality vehicle are some of the reasons for the increasing popularity of Japanese used vehicles in the country. Toyota is a popular Japanese model in the country. Out of all vehicles, SUVs (Sports Utility Vehicles) are the most popular ones in the country.
From the year 2007 to 2012, the economy of Guyana grew by 4.4%. In fact, in the year 2011 alone, it grew by 5.4%. These development results in the increasing income levels as well as access affordable financing options that led to the increased demand for second-hand vehicles and to lesser extent new cars. As the economy of the country is growing, the trend is undoubtedly growing with it.
Guyana is a sovereign state on the northern coast of South America that is culturally part of the Anglophone Caribbean. Direct importation of Japanese used cars is becoming popular in Guyana. Taxes are low too. There are certain duties that are to be followed by the importer in order to drive the car in Guyana. The country permits importation of only right hand drive vehicles that should not be more than five years old. Small trucks up to 3 tons must be less than four years old.
It is quite difficult in the country for the new car market to surpass the used car market as the latter one is a reliable option for more people to realize their dream of owning a car. As there are high demands for vehicles in the country, the country offers enormous market for exporters to make a fortune.
Popular car models:-
Daihatsu Opti, Toyota Alphard-G, Toyota Estima, Toyota Corolla Runx, Toyota Allion, Toyota Wish, Toyota Aristo, Subaru R2, Toyota Prius