WITH car sales up in July by 105pc from July 2020 and 75pc from June 2021, government officials, who are over the moon, are claiming that the country is back on the path of rapid recovery.
The unprecedented growth in July car sales is owed to a couple of factors: low interest rates for auto financing and a significant reduction in car prices through cuts in taxes announced in the budget for the present financial year.
It has come at a cost to consumers and the trade balance.