Trends in vehicle sales changing

The number of new personal automobiles and light utility vehicles sold between January and August saw a year-on-year decline of 12.6% to 120,416 vehicles. The sale of personal automobiles alone however grew by 9% due to companies’ interest in switching from utility vehicles to personal cars. The reason for the shift in demand is the fact that, as of April, companies may now deduct VAT from the purchase of personal automobiles.