Should We Be Afraid of the New Vehicle Excise Tax?

EDITOR’S NOTE (2): We have put up a comparative study of this Department of Finance proposal versus House Bill 4774. You can check out the story here (1/29/2017).

EDITOR’S NOTE (1): This report pertains to the Department of Finance’s initial recommendation to increase the excise tax on new vehicles. A new version, House Bill 4774 is being considered as well. In both cases, it’s important to know that NOTHING IS FINAL. The pricing scenario here may change once the law has been passed. Regardless, we will update this with a more detailed breakdown once that happens (1/25/2017).

This will be the biggest motoring headline for 2017 and one that will have a long lasting repercussion for the entire automotive industry. With the automotive industry enjoying a robust double-digit growth during the past few years, a new regulation is being proposed that may curtail this growth. This regulation is the proposed change to the current vehicle excise tax.
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