Second hand car retailers all across Cyprus are trying to set up a joint venture paving the way for imports to come from Ireland and not the UK.
The initiative was sparked after Brexit led to skyrocketed prices of imported cars from Britain – the number one market for Cypriot retailers, Philenews reported on Wednesday.
Paphos Car Dealers Association, Andreas Shikkis also said that dozens of businesspeople in the sector have joined forces in this initiative.
“The exit of the United Kingdom from the EU led to a jump in prices of these cars which makes them inaccessible to the Cypriot market,” he said.
“On the other hand, Ireland, as a Member State of the Union, continues to provide the right financial conditions for the importation of such cars to Cyprus and this is the direction we are taking,” he added.