How VAT is Impacting Automobile Industry in UAE
The automobile industry in UAE was facing a tough time due to excess stock and was gearing up with new VAT era carefully. Stakeholders were considered that the final legislative framework of VAT agreement could provide some clarifications for the operational purposes, for imported and local vehicles.
Several car manufacturers and dealers were making the automobile industry highly competitive specifically for the SUV, mid- size and SUV segment that time. Car manufacturers and dealers lured customers just by providing a discount on the new purchase, loan facility, low maintenance cost and free insurance for the first quarter of year. Dealers were doing that just because to clear out the available stock before the introduction of VAT in UAE.