Cars imports soar in Algeria

Estimates show that the number of imported cars reached record soars estimated at some 63,990 units during the first quarter of 2008, owing to bank loans and facilities provided by banks to the Algerian consumer.

A total of 4.24 percent rise was recorded in comparison to the same period of 2007 putting the overall price to 300 billions Algerian Dinars, recording thus an increase estimated around 47.10 percent compared with last year, according to estimates released by the Algerian customs.

Since 2005 the Algerian government issues a law forbidding the import of used cars as it used to be. This new regulation contributed to the renewal of the Algerian car park as, most of the consumers shifted their interest to new cars acquired through bank loans.