Historic Free Trade Agreement with Japan Could Lower <b>Car Prices</b> <b>...</b> |
| Historic Free Trade Agreement with Japan Could Lower <b>Car Prices</b> <b>...</b> Posted: 07 Apr 2014 04:49 AM PDT  Apparently, the pending death of Australia's car manufacturing industry after the announcements from GM's Holden division (schedule to stop in 2017), Ford (in 2016) and Toyota (in 2017), offered the local government an added incentive to complete a historic trade deal with Japan, the first of its kind between the two countries. Under the free trade agreement, expected to be ratified in July when Japanese Prime Minister Shinzo Abe visits Australia, Japan will phase out its nearly 40 percent tariffs on Australian beef beer, lamb, wool and cotton, while Australia will end duties on Japanese-made cars, household appliances and electronics. Australian Automobile Association chief executive Andrew McKellar told reporters that approximately one-third of the cars sold in the country come from Japan and that the agreement will see 75 percent of existing Japanese imports freed from a five percent tariff, with the remaining vehicles to be duty-free after three years. Australian authorities estimate price drops of up to $2,000 per car. "This is effectively a tax cut for motorists and should result in savings of between one and two thousand dollars," said McKellar. "This agreement will make the entire new car market more competitive and that's good for all consumers." On the other hand, Australia's car parts manufacturing industry will also lose the protection it enjoys, as their Japanese counterparts will be exempt from tariffs, though, this rule won't be implemented for another five years. By John Halas Story References: SMH & SkyNews PHOTO GALLERY    |
| <b>Car Prices</b> in Singapore - TheFinance.sg Posted: 09 Apr 2014 11:24 PM PDT Cars are expensive in Singapore. The most expensive by most studies. In fact, more than twice as expensive as the runner-up according to one particular report. In a recent report done by Yahoo!, Singapore ranks 1st in the Toyota Corolla Global Price Index, which is definitely indicative of the general car prices here. Yahoo! compared the prices of Toyota Corolla Altis in various countries around the world, using similar variants of the Altis model as far as possible. We sorted the prices and found, to our horror, that the cost of Singapore's Altis is a whopping 270% that of the second-placed Cuba! With same amount of money, you can buy 6 similar cars in USA or Japan. Here's the car prices ranking table:
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