OREANDA-NEWS. On 7 September 2009 was announced, that today, the additional 13% import duty on imported passenger cars that was imposed at the beginning of 2009, expired.

Concorde Capital: For local passenger car manufacturers, the lifting of the import duty means renewed price competition from new imports. Ukrainian carmakers, whose share of new sales decreased from 72% in 7M08 to 45% in 7M09, could see a further reduction in their market. Several law drafts have been registered in the Verkhovna Rada to impose new duties to protect local auto manufacturers, but we believe the soonest any could be enacted is January 1, 2010. This would still leave car dealers sufficient time to import enough vehicles to satisfy demand until new models debut in September 2010. In terms of local stocks, the news does not have an immediate effect since it has been anticipated.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.