car sales 2.jpgA cross-section of Harare residents has raised concern over the speculative tendency by some car dealers who are allegedly inflating the prices of second vehicles ahead of the June 30 deadline for the importation of cars manufactured 5 plus years ago.

This comes at a time when the demand of second hand vehicles has increased ahead of the proposed deadline.

While debate on the implications of proposed ban is intensifying, several Harare residents say car dealers should not use the proposed ban to justify such price increases.

“Car dealers and the business community in general must desist from the culture of profiteering and speculative tendency as this has negative impact on the economy,” said one resident.

The country’s business community, particularly the retail sector, has in the past been criticised for its unethical and bad corporate governance following a period of price distortions and profiteering.

Local car dealer, Mrs Joyce Mukazhi, believe it is the role of the business community to support government’s economic recovery agenda by practicing good business ethics and appealed to other car dealers to do away with the speculative tendency.

Meanwhile, some sections of the media have quoted some government officials saying they are in the process of reviewing some sections of the Statutory Instrument of the ban on the importation of the second hand vehicles.

Government’s policy on the ban of second hand vehicles has sparked debate with some stakeholders calling for the shelving of the policy given affordability challenges and the lack of capacity of the local industry to meet demand.