The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Bahamas Motor Dealers Association’s (BMDA) president said he is not worried about electric car sales in the country rising because gasoline car sales are “booming”.

Ben Albury, told Tribune Business electric vehicles still make up only a small percentage of the vehicle market and the overwhelmingly large sales in the market are still gasoline and diesel engine vehicles.

“My business is booming right now,” Mr Albury told this newspaper. “Electric vehicles still make up a very small percentage of the total vehicle sold in the market. If I was at my desk, I could have given you the exact percentage, but I think they’re actually a couple points down below where they were last year.”

The Bahamas Bus and Truck dealership owner said: “Dealers have been up quite a bit over the last year. Things seems to be stabilising and they are starting to do a lot better.”

He added: “I think the supply is starting to catch up some, although we’re still having supply shortages. But now they are starting to get certain things that they weren’t getting before and I think that also helps because there is some pent up interest. Hybrid vehicles are still a very strong part of the segment as well.”

There are hopes that this strong rebound in car sales will continue well on into 2024, “provided the dealers can get inventory”.

The inventory and supply shortage should have been “well behind” the automobile industry as it continues moving further and further away from the pandemic’s peak, but Mr Albury said: “The Japanese vehicles have settled down, but American vehicles and American spare parts they’ve got a challenge with backorders and delays in production and components shortages.”

Meanwhile, BMDA is looking forward for its first Auto Show since prior to 2020, at the Mall of Marathon on October 20 and 21. Consumers would be able to look at the cars as well as talk to different banks about financing. In addition, they will have insurance agents on hand.