Juan Morel, executive director of the Association of Vehicle Concessionaires (ACOFAVE), has criticized that the GATT valuation will mean 10-30% increases in the local prices of utility vehicles. He forecast luxury vehicles could suffer 120% increases. Car sales are down 50% following a boom in sales last year as consumers rushed to beat the car price increases predicted due to the tax reform. An El Caribe editorial warns that the situation could result in the government becoming the principal importer of new tax-exempt vehicles under government programs such as the Plan Renove (Hyundai) and Angulo Abierto (Mercedes Benz buses). It also criticizes a bill promoted by Senate President Ramon Alburquerque that would extend to 10 years the age of used vehicles allowed into the country.
