Automobile Market: Race to Clear Stock Amid Sales Decline

The local automobile market has been experiencing a significant slowdown since August 2025, following the revision of excise duties that took effect in June 2025 – a month that recorded a peak of 3,743 sales. Hybrid and electric vehicles, which had previously been encouraged, are now subject to taxes again, while conventional models face increased rates ranging from 45% to 100%. After a strong July 2025, supported by the delivery of vehicles already ordered, the market is now struggling.