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Kuwait looks to regulate local used car trade market

KUWAIT: Kuwait’s traffic authorities are studying the possibility of setting a limit for the maximum number of cars non-Kuwaiti residents in the country can own, in an effort to regulate the local used car market. According to a local report, authorities became alerted of a situation where people in Kuwait have up to 50 vehicles registered in their names at the same time, as they trade in used cars without a proper license, taking advantage of the law that allows people to freely sell vehicles they own to others without paying substantial fees, as well as the lack of a ceiling for the number of vehicles one person can own.

After conducting a survey on the situation, authorities became convinced that the local used car trade market needs more regulations, such as obtaining a license from the Ministry of Commerce and Industry for an annual fee, and putting a cap on the number of vehicles a person can own, according to sources with knowledge of the situation.

“It was also discovered that some residents buy a large number of vehicles, then lease them to others in exchange of a monthly payment,” said the sources who are quoted anonymously in a report published by Al-Rai Arabic daily yesterday. The sources specifically mentioned that authorities are studying introducing restrictions on car ownerships on residents only, although a decision on that regard is not final yet.


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