Armenian car traders lose interest in Russian market
06.09.2016,
13:23
Armenian traders importing second-hand cars have lost interest in the Russian car market, even after the country’s parliament unanimously passed a government bill earlier this year abolishing a 20 percent tax levied from cars imported to Armenia from Russia and other members of the Eurasian Economic Union (EEU), the local daily "Hayots Ashkhar" (Armenian World) says in its today issue.
YEREVAN, September 6. /ARKA/. Armenian traders importing second-hand cars have lost interest in the Russian car market, even after the country’s parliament unanimously passed a government bill earlier this year abolishing a 20 percent tax levied from cars imported to Armenia from Russia and other members of the Eurasian Economic Union (EEU), the local daily "Hayots Ashkhar" (Armenian World) says in its today issue.
The daily says the move was expected to result in a surge of import of cars from Russia, but the imports of cars from Russia have decreased dramatically.
According to the Customs Service, in the first half of this year only 250 vehicles were imported to Armenia from the Russian Federation, down from 1,735 cars imported in the same time of 2015. Thus, imports of cars from Russia to Armenia slashed by 6.5 times.
"This means that the Russian car market is not quite favorable for the Armenian importers, primarily due to the stabilization of the currency market. Despite the fact that the Russian ruble keeps fluctuating due to the volatility of oil prices, however, in the long run it stopped depreciating. In this regard, the prices for cars have been adjusted ", the newspaper says
Armenian companies and private individuals importing cars pay not only VAT but also an environmental tax from second-hand cars manufactured 5 or more years ago. The European Union and the United States have long accounted for the vast majority of Armenian car imports. . -- 0
The daily says the move was expected to result in a surge of import of cars from Russia, but the imports of cars from Russia have decreased dramatically.
According to the Customs Service, in the first half of this year only 250 vehicles were imported to Armenia from the Russian Federation, down from 1,735 cars imported in the same time of 2015. Thus, imports of cars from Russia to Armenia slashed by 6.5 times.
"This means that the Russian car market is not quite favorable for the Armenian importers, primarily due to the stabilization of the currency market. Despite the fact that the Russian ruble keeps fluctuating due to the volatility of oil prices, however, in the long run it stopped depreciating. In this regard, the prices for cars have been adjusted ", the newspaper says
Armenian companies and private individuals importing cars pay not only VAT but also an environmental tax from second-hand cars manufactured 5 or more years ago. The European Union and the United States have long accounted for the vast majority of Armenian car imports. . -- 0
