People Are Taking Loans to Buy Cars and Sell Them at a Higher Price Next Year: Hayk Sargsyan

Citizens have allocated circulating funds or taken out large loans to purchase cars before the end of the year, intending to sell them at a higher price next year. Hayk Sargsyan from the My Step Alliance mentioned this in the National Assembly while discussing the imposition of tax exemptions for car imports for another 3-5 years.

“Now we are changing the game rules again at this moment, meaning at the last minute, which is unfair because people have calculated that after January 1, no one will be able to clear customs at a cheap rate and for this, they have mortgaged their homes,” Sargsyan stated.

The draft under discussion is aimed at preventing a drastic decline in import volumes by establishing exemptions for companies importing used cars from abroad. This is also possible regardless of EAEU regulations.

According to Sargsyan, as a result of this regulation, companies will be able to import vehicles at a discounted price. Meanwhile, citizens who have imported vehicles in advance find themselves in unfavorable competitive conditions. “It turns out we are pulling them down. I consider this unacceptable,” Sargsyan added.

LHK MP Gurgen Baghdasaryan said he partially shares the concern but noted that if they wish, there could be a delay in changing these regulations.