Vehicle clearance in the local market rises by 15%, says JFZIA head

Chairman of the President of the Jordan Free Zones Investors Association (JFZIA), Mohammed Bustanji, announced that the vehicle clearance in the local market has soared by 15% during the first eight months of 2020.


In a press statement issued on Sunday, he said the number of vehicles that were cleared during the 8-month period reached 23,244, compared with 20187 for the same period last year.


11,547 fuel, 9,603 hybrid engine, and 2,094 electric vehicles were cleared during the first eight months, according to Bustanji.


The number of re-exported vehicles have hit 48791, compared with 45026 for the same period last year, he noted.


The increase in the clearance volume during the first eight months is a attributed to the bank facilities granted by the Central Bank of Jordan (CBJ) at the beginning of June to purchase vehicles at competitive interest rates, he noted.


The hike is also driven by the incentives announced by the government in November, 2019, which ahve contributed to reviving vehicle sales movement in free zones, according to Bustanji.


The incentives lowered the vehicle prices, especially electric-engined cars, he noted.


In the context, Bustanji called for suspending the customs duties levied by 5% on hybrid vehicles for 2021 until the beginning of 2022, in a bid to maintain the growth rates currently achieved.


Source: Jordan News Agency

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