The annual Suppliers’ Seminar of the Consumer Affairs Unit on Monday brought together auto suppliers from across the country and other stakeholders to review the best practices and laws under which auto dealers must operate.
Hosted at the Herdmanston Lodge in Georgetown, the forum aims to bring auto dealers into greater compliance with the laws, regulations and standards that safeguard the rights of consumers.
Minister of Business Dominic Gaskin, who attended the seminar, noted that Government and private stakeholders must both collaborate to ensure all parties in the auto industry are protected.
“Our Government needs to work with your industry to encourage adherence to the guidelines that the industry is required to operate within,” he said.
According to Minister Gaskin, transportation is key to the economic competitiveness of any country; therefore safe, reliable vehicles are important sub-components of this sector. He said it is important that the auto industry be aware of Government’s projections going forward.
“Last year, as part of Government’s 2017 budget, measures of renewable energy sources, co-generational alternatives, the Government announced five measures. One: the lowering of excise tax on hybrid and electric vehicles; two: granting of tax exemptions to set up electric vehicles’ charging stations; three: zero-rating the excise tax on biofuel and specially designed refuse trucks; four: the restriction of used tyres; and five: the reduction of taxes on new tyres”, Minister Gaskin highlighted.
Director of the Competition and Consumer Affairs Commission (CCAC), Dawn Holder-Alert, has said the economy is growing, and this has seen more cars being imported; hence stricter guidelines need to be implemented.
“Consumers are eager to purchase cars from auto dealers. It is very important that these consumers are vigilant and know what they are entering into. Sometimes the eagerness of the consumer to buy a car will affect their ability to ensure they are protected,” Holder-Alert explained.
It has been recommended that individuals and businesses operating within the auto industry be required by law to observe fair business practices in their transactions with consumers.
The Competition and Consumer Affairs Commission (CCAC), which was established in 2006 and became fully operational in 2010, is tasked with objectively executing the laws governing the two acts – the Competition and Fair-Trading Act #11 of 2006 (CFTA), and the Consumer Affairs Act # 13 of 2011 (CAA). The agency advocates and ensures a balance of fairness and equality between consumers and businesses, protects consumers’ interests in relation to the supply of goods and services, and guarantees efficient and effective redress.
