President of the Automotive Dealers Association of T&T (ADATT) Ryan Latchu says feels “encouraged” by Finance Minister Colm Imbert’s announcement of the Government's promise to waive taxes and customs duty on imported hybrid motor vehicles.
After announcing an adjustment in fuel prices effective April 19, Imbert said the Government will waive taxes and customs duty on imported hybrid motor vehicles.
Imbert said the Government was taking steps to encourage citizens to conserve fuel, including a new exemption for hybrid cars. He said this exemption will take effect between the beginning and middle of May 2022.
“These tax concessions will be designed to cater to typical car owners and will not be available for owners or importers of high-end luxury hybrid cars. For example, a typical hybrid car that will fall into this new category of tax exemption would have an engine size not exceeding 1600 cc, an electric motor generating 45 kW, total power output in the vicinity of 78 kW and would not be more than three years old,” Imbert said.
In a statement to the Sunday Guardian, Latchu said, “There is a material benefit to the motoring public in both the new and used vehicle industries from this initiative, especially in light of the increase in fuel prices from April 19. We are hopeful that as key stakeholders, we will be consulted before the actual legislation is drafted and approved for rollout. Hybrid vehicle options are readily available by most automotive brands represented locally and a more sustainable option in the present as we prepare the nation for EV mobility in the near future."
President of the Trinidad and Tobago Automotive Dealers Association (TTADA) Visham Babwah accused the Government of misleading the population on the issue.
“This is hoodwinking the population. They said they will implement the exemption in May but what they have done is the way they have categorised it. Usually, when you are given an exemption on a hybrid vehicle you give the exemption based on the ageing capacity, the cc capacity of the gasoline engine.
"What he has said this time is going on the engine capacity and the motor kilowatt. This represents electric power. This is totally misleading.”
He said for the electrical capacity of a car like a Toyota Aqua, which is the smallest can that can be imported, its electrical part has a capacity of kilowatt which is much higher than what the Finance Minister said.
The Toyota Aqua is a full hybrid, gasoline-electric car.
“What he has done is to throw out some figures on capacity, but we cannot get vehicles that conform to that capacity. There is no vehicle that we can get with that combined kilowatt that he spoke about. He is confusing the population. Citizens are thinking that they will get exemption up to 1600 cc, the problem is that we can’t get any vehicles in that category. Even if they get a few very small vehicles, a three-year-old vehicle would be costly.”