Headline News

New car sales point to expanded middle class in St. Kitts and Nevis

St. Kitts and Nevis’ expanding middle class is driving year-on-year growth in the automobile industry, as well as in related sectors such as financing and insurance.The prime minister, the Honourable Dr. Timothy Harris, who is the minister of finance, has said that “Something good must be happening when more [people] can afford to buy their own means of vehicular transport.”

More car sales bode well for gas stations and the automotive aftercare market, which consists of car repair and tire services, car washes, as well as businesses that sell an assortment of accessories and parts. Moreover, the licensing and registration of vehicles puts money into the public purse.“During the year [ending Jan. 31], more vehicles were sold than at any similar period in the company’s history and there were significant increases in the revenues from the garage operations.