Ela Motors cuts prices

CAR buyers in Papua New Guinea can now enjoy savings of between K20,061 and K225,758, thanks to Budget 2020 cuts on import duty for motor vehicles.
At least one car dealer, Ela Motors, had on Monday announced retail price cuts for eight of its Toyota models in an advertisement in The National.
Other car dealers, including used car companies, are also expected to follow suit.
When contacted, Ela Motors chief executive Keiichiro Kuwabara told The National: “Yes, the change of retail prices corresponds to the recent cuts in excise tax as announced by the Government in Budget 2020 last year.”
Ela Motors sales and marketing general manager Neil Stewart said: “Because of the advertisement, there was an immediate impact … a 50 per cent increase in daily sales yesterday (Monday).”
Buyers get to save K225,758 for Toyota’s LC200 (now priced at K469,830) and K25,000 for Rush (K85,000).
Other Toyota models listed were: Prado (K131,620 in savings/now priced at K279,458); Fortuner 2.4L (K53,579/K199,834); Fortuner 2.8L (K97,000/K229,300); Hilux 2.8 Auto (K20,061/K173,685); Land Cruiser D/Cab (K32,819/K210,775); RAV4 (K36,345/K118,268).
In his maiden budget presentation in November, Treasury Minister Ian Ling-Stuckey announced that those buying imported vehicles from Jan 1 will pay much lower excise duty – to make vehicles more affordable to everyone.
He said the reduction of 60 per cent in excise duty would apply to new and reconditioned vehicles. Last year, the excise duty was 100 per cent.
For imported vehicles that had lower than 100 per cent excise duty last year, buyers now pay only 20 per cent.
Attempts by The National yesterday to get confirmation from PNG Customs whether the excise duty cuts had been implemented were unsuccessful.