Automotive Holdings Group
(ASX:AHG) says government import proposals are unlikely to have any material impact on the company.
The federal government has announced plans to relax regulations on parallel imports of new and near-new vehicles from overseas right-hand drive markets, primarily the UK and Japan, from 2018.
While there is no certainty the legislation will pass, the government’s own modelling suggests it will have only a minor effect on Australian dealerships.
AHG said the luxury car tax will still apply to parallel imports and stamp duty will be payable on first registration in Australia.
Automotive Holdings Group reported a net profit of $94.11 million at 30 June 2015.
