Natalie Karamath

‘challenging time’:

Natalie Karamath

“A LOT of cars were returned” to new vehicle dealers after the State-owned oil company was restructured from Petrotrin into Trinidad Petroleum Holdings Ltd (TPHL), which resulted in thousands of jobs being lost when Trini­dad and Tobago’s only oil refi­nery was closed in October last year, the chief executive of one of the nation’s largest new vehicle dealers has said.

Massy Motors CEO Natalie Karamath made the disclosure last week, saying “the automotive sector fell by about 31 per cent from 2015 to present”. She identified challenges with the foreign exchange supply as also having an impact on new car dealers.

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