Landcruisers hit with 'luxury car' tax
Key Points
- Toyota, which sells more cars than any other car maker in Australia, is angry about luxury car taxes.
- Martin Ward, the boss of AP Eagers, a $2 billion ASX car dealership company, says the Victorian tax is ''unfair and excessive''.
- New vehicle sales in Australia have been dropping for 13 consecutive months.
The chief executive of $2 billion car dealership group AP Eagers is furious about the Victorian government's new luxury car tax and says it is ''unfair and excessive'' and could have significant unintended consequences.
Martin Ward, who has an agreed merger deal with rival ASX-listed firm Automotive Holdings Group to create an enlarged car dealership group with 229 outlets across Australia and 12 per cent market share, said it was wrong for the Victorian government to call it a ''luxury'' tax.
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