New tax on hybrid and fuel vehicles in 2018 Budget and what it means

[Average]

Heard there's a voicenote on whatsapp circulating where he is telling someone that indians are the problem and that due to social media many pnm supporters are waking up and smelling the coffee.
Don't know how true.

[boxy]

Because is Him I could picture his smug look while saying it but unfortunately the rate the psychophants from Pep and UNC pumping on social media its probably a red herring.

[fouljuice]

Yeah but dirty wicked east indians are the problem.

[pete]

Should have banned turbo hybrid vehicles from being exempt. None of the "economy" hybrids have turbos.

[Dizzy28]

Should have banned turbo hybrid vehicles from being exempt. None of the "economy" hybrids have turbos.

Which vehicles would this affect?

[pete]

The BMW, Mercedes and Volvo afaik.

[Dizzy28]

The BMW, Mercedes and Volvo afaik.

Those brands come in less than 1.6l displacement hybrids?

[Joshie23]

Should have banned turbo hybrid vehicles from being exempt. None of the "economy" hybrids have turbos.

Which vehicles would this affect?

Also, wouldn't a turbo make the vehicle even more efficient in terms of performance, but more importantly fuel consumption and lower CO2 emissions, which was one of the points of the concession in the first place?

[pete]

What I meant is INSTEAD of banning hybrids with engines between 1600 and 2000cc they should have done that. The REASON he gave was it was causing excessive FOREX to be spent as people were bringing high end Euro hybrids. Those high end Euros have 1.5L-2L turbocharged engines. To get only lower cost cars they could have used a turbo ban to prevent the more expensive cars from being imported and getting away from duties/taxes.

[Chimera]

them fellas who spend big money to gears up their garages to deal with high end euro hybrids gonna be pissed

that was some dred flabbergastery tho

u enact something to last until 2020.....
then 1 year later you end it

[Dizzy28]

What I meant is INSTEAD of banning hybrids with engines between 1600 and 2000cc they should have done that. The REASON he gave was it was causing excessive FOREX to be spent as people were bringing high end Euro hybrids. Those high end Euros have 1.5L-2L turbocharged engines. To get only lower cost cars they could have used a turbo ban to prevent the more expensive cars from being imported and getting away from duties/taxes.

I'm not sure the percentages of total hybrid imports but based on the listings on the sites I see on Facebook most of the Euros hybrids (X5s, Eclass, C Class, A6s) have greater than 1.5l engines even with turbo so they are captured by the new MVT regime. But i get what you getting at Pete.

[eliteauto]

What I meant is INSTEAD of banning hybrids with engines between 1600 and 2000cc they should have done that. The REASON he gave was it was causing excessive FOREX to be spent as people were bringing high end Euro hybrids. Those high end Euros have 1.5L-2L turbocharged engines. To get only lower cost cars they could have used a turbo ban to prevent the more expensive cars from being imported and getting away from duties/taxes.

What they should have done was employ a CIF cap, a little research at the Customs dept would have told them what the avg CIF of "regular" hybrid cars was and then you use a cap figure so if you're importing a hybrid above that landed value you pay tax on it. This btw was the same method suggested to Imbert when he proposed a luxury tax on vehicles, he altered it deliberately and I suspect it was because it would have affected the new car dealerships many of whom are owned by financiers

[Dizzy28]

I'm checking back and the variation to the MVT was announced in the 2014 budget and ascended to in the Finance Act of 2015 (Jan 2015). The dealers would have gotten a solid 3 years (assuming the clause in the 2018 budget allowing for already shipped stock to be exempt) rallys them to December.

60% of 5 yr span is hardly a cobo sweat!!
With that said as easily as it was to change the MVT downwards is as easily that they can move it upwards. All part of the risk matrix for that industry.

[Joshie23]

What I meant is INSTEAD of banning hybrids with engines between 1600 and 2000cc they should have done that. The REASON he gave was it was causing excessive FOREX to be spent as people were bringing high end Euro hybrids. Those high end Euros have 1.5L-2L turbocharged engines. To get only lower cost cars they could have used a turbo ban to prevent the more expensive cars from being imported and getting away from duties/taxes.

My apologies and thanks for the clarification. I understand where you're coming from, especially considering the fact that as someone stated earlier, the godfather of hybrid vehicles, the Toyota Prius, is no longer exempted, due to it falling out of the 1.6l range.

[Allergic2BunnyEars]

Honestly people were buying the godfather Prius in droves?

[Joshie23]

Honestly people were buying the godfather Prius in droves?

I used it in the the context of it being the first mass produced hybrid car, in addition to it being in its 4th(?) generation so it was ironic that it was no longer exempted.

[Allergic2BunnyEars]

Honestly people were buying the godfather Prius in droves?

I used it in the the context of it being the first mass produced hybrid car, in addition to it being in its 4th(?) generation so it was ironic that it was no longer exempted.

I hear you but I didn't quote you so wasn't disputing what you said. I was asking it from the standpoint that Babwah and other foreign used dealers are using the Prius as an example of lost business. I disagree with them on that cuz most were using the loophole to buy boosted euros. I would have done the same if looking for a BMW.

[snypaz]

Everybody knows the Toyota Prius is the most popular Hybrid in the world. Maybe, Toyota Trinidad didn't want the influx of foreign used ones? They already dealing with used Hilux and Corollas and now the Prius? Nah shut that down one time. If you want a Prius, Spend yuh money.

The new ones are hideous though.

[boxy]

Everybody knows the Toyota Prius is the most popular Hybrid in the world. Maybe, Toyota Trinidad didn't want the influx of foreign used ones? They already dealing with used Hilux and Corollas and now the Prius? Nah shut that down one time. If you want a Prius, Spend yuh money.

The new ones are hideous though.

There are no foreign used hiluxes u need to own a registered business in order import a used Pickup or be a returning resident. . Also to the guy that spoke about a CIF cap that won't work because the foreign used dealers already have their suppliers doctor invoices to pay reduced import duties therefore they will always try to dodge the cap.

[Joshie23]

I hear you but I didn't quote you so wasn't disputing what you said. I was asking it from the standpoint that Babwah and other foreign used dealers are using the Prius as an example of lost business. I disagree with them on that cuz most were using the loophole to buy boosted euros. I would have done the same if looking for a BMW.

Respect. *e-bounce* It looks like the Gov't had a case of hindsight being 20/20. When they realized the loophole that was created and the revenue that would be lost from uncollected taxes, they shut the door. I guess if someone really wants a hybrid Euro, they'll be willing to pay full price, save fuel and by extension, the environment, because there are a lot of non-hybrid Euros otr right now in any case.

[kjaglal76v2]

Honestly people were buying the godfather Prius in droves?

Everybody who complaining wasn’t even gonna buy.

This budget hurt window shoppers the most

[snypaz]

Everybody knows the Toyota Prius is the most popular Hybrid in the world. Maybe, Toyota Trinidad didn't want the influx of foreign used ones? They already dealing with used Hilux and Corollas and now the Prius? Nah shut that down one time. If you want a Prius, Spend yuh money.

The new ones are hideous though.

There are no foreign used hiluxes u need to own a registered business in order import a used Pickup or be a returning resident. . Also to the guy that spoke about a CIF cap that won't work because the foreign used dealers already have their suppliers doctor invoices to pay reduced import duties therefore they will always try to dodge the cap.

Maybe I should've said foreign used dealers selling new the new Hilux. My bad.

[kjaglal76v2]

Even the prices of the ones that still exempt would raise slightly too

I.e Aqua
Vezel
CH-R
Axio/Fielder

[15devils]

Xtrail hybrid prices jump up to a extra 40k and them already making a cool 50k profit b4 02 oct

[boxy]

Those used car dealers are such snakes its rediculous. And half of them were bad talking the hybrid vehicles when the initial legislation passed eh.

[Duane 3NE 2NR]

Even the prices of the ones that still exempt would raise slightly too

I.e Aqua
Vezel
CH-R
Axio/Fielder

Isn’t the C-HR 1.8?

[kjaglal76v2]

Even the prices of the ones that still exempt would raise slightly too

I.e Aqua
Vezel
CH-R
Axio/Fielder

Isn’t the C-HR 1.8?

There’s a 1.2 Turbo

[Duane 3NE 2NR]

^ didn’t know this. Thanks!

[agent007]

We don’t get the 1.2T or 2.0L CHRs here. We only get the hybrid version which is a 1.8. If the dealers bring them with the 1.2T going forward then it should continue to be a reasonably priced crossover for the masses.

[pete]

The 1.2 turbo does not get nearly as good fuel economy though.