x Abu Dhabi, UAESunday 23 July 2017

Slowdown cuts funding

SAN BERNADINO, CALIFORNIA // The downturn in the US automotive industry has created an additional revenue shortfall with less money coming in from the significant sales tax on new cars. In San Bernadino, there were 13 car dealerships at the start of 2008 and now there are only six. Local authorities are now short of funds for public services as a result of the reduced sales tax revenue. In the past year, vehicle sales accounted for 11.5 per cent of citywide sales tax revenues in San Bernadino, down from 14.9 per cent in 2007 and 15.1 per cent in 2006.