Reconditioned car imports surged by more than 75 per cent year-on-year in July-October despite the ongoing economic uncertainty and the government’s efforts aimed at discouraging the purchases of luxury items from external sources, traders say.
Car imports surged in the just concluded fiscal year thanks to reduced import tariff and release of pent-up demand among the country’s middle-class amid the economy’s gradual recovery from Covid-19.
Reconditioned car imports surged by more than 75 per cent year-on-year in July-October despite the ongoing economic uncertainty and the government’s efforts aimed at discouraging the purchases of luxury items from external sources, traders say.
Car imports surged in the just concluded fiscal year thanks to reduced import tariff and release of pent-up demand among the country’s middle-class amid the economy’s gradual recovery from Covid-19.
