Tuesday 4 August, 2020

Car dealer still absorbing NSRL

NSRL slashed from prices

NSRL slashed from prices

Three months shy of the one-year mark, since the National Social Responsibility Levy (NSRL) was passed, yet one car dealer is boldly declaring that despite its negative impact on sales, they will still absorb the tax in certain circumstances.

McEarney Quality Inc. (MQI) is choosing to not pass on the NSRL to customers who purchase specific vehicles.

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Speaking to Loop News this week, a spokesperson for MQI said that they have taken this decision with the customer’s best interest at heart.

“If we absorb the tax then we are safeguarding any change to the levy. If we remove the tax, by absorbing, you have nothing stopping you from purchasing a new car - because the risk has been removed.”

The move is not across all showrooms - makes and models though. However, when asked why now; the MQI Representative said that Barbadians are in a place of uncertainty right now and so they hope that this initiative will help persons make the purchases they have been putting off for some time now.

“These are what we call ‘end of range vehicles’ so we have reduced the price to encourage customers that may want a new vehicle but are waiting on the election before deciding to purchase.

“No one knows what will happen to the NSRL levy after elections, it may even go up or down or [be] removed, so this is an incentive to help them make a decision.”

Asked about the impact of the NSRL on sales, it was revealed, “You can check with the Barbados Association Dealerships but industry figures are definitely showing a reduction in new car sales since the introduction of the NSRL levy.”

The effort to help customers cut cost is part of MQI’s March Magic campaign.

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