People Can Trade In Their Old Cars for New Ones, Says Minister

In today’s government meeting, Economy Minister Vahan Kerobyan reminded that the law on car trading comes into effect on January 1. He stated, “This essentially allows people to trade in their old cars to dealers in exchange for new ones. We changed the regulations last year to make it more attractive from a tax perspective. The law is already in force with all its regulations. Admittedly, there is currently a slight deficit of new cars, but I believe that over time, car dealers will offer new and better services, allowing people to easily upgrade their vehicles.”

“You are correct, Mr. Kerobyan, that it was not previously prohibited for a person to trade in their old car for a new one, it was just that taxes arose which made the transaction less appealing. We have legislated to make it more attractive for citizens to acquire a new car through this method,” responded Prime Minister Nikol Pashinyan.