This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 9/27/2016

Overview:

The Bahamas is not a manufacturer of any machinery..  Currently there are over 200,000 registered vehicles in the country. The inefficient public transportation system and the lower cost of cars has resulted in growth in this sector. The majority of vehicles in the country are imported from ports in Florida but a growing number are sourced directly from Japan.  Given the proximity to the United States and the general familiarity of consumers to driving left hand drive vehicles, prospects are positive for growth., American vehicles are generally viewed as more durable and of a higher quality and could benefit from government proposals to implement emissions and safety standards.

Sub-Sector Best Prospects:

Hybrid/Electric vehicles, Car parts, emission-testing equipment, heavy equipment.

Opportunities:

The Bahamas has recently reduced tariffs on hybrid and electric vehicles to 25% (as compared to 65%) for cars valued at $10,000 or less, 75% for cars up to $40,000 and 85% for a car valued above $40,000. The government is considering implementing emissions and safety standards for vehicles; if implemented, this could result in expanded opportunities for imports of electric cars. Current gasoline prices remain above $4 despite global prices and provide an incentive to use a battery powered vehicle. Wrecked (salvage title) vehicles and cars more than ten years old have been prohibited and may no longer be imported into the Bahamas. These developments coupled with new climate change commitments could assist in the development of this market opportunity.

Web Resources:

Bahamas Investment Authority: www.bahamas.gov.bs/bia
Ministry of Environment and Housing: http://www.facebook.com/ministryofeh
Bahamas Motor Dealers Association: www.bmda.bs

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More Information

Bahamas Trade Development and Promotion