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No one in Iraq owns a car . that's why it so cheap.
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False....the single largest private automobile ownership growth rate over the last two years has been....you guessed it....IRAQ......
"Meanwhile, the end of UN sanctions and the CPA's abolition of taxes have in effect transformed Iraq into a vast duty-free zone, opening the floodgates to
a stream of imports of energy-intensive consumer goods at prices well below inflated pre-war levels. According to one estimate, some 300,000 to 450,000 second-hand automobiles have been imported into Iraq since the war from dealerships as far away as the United Arab Emirates. Cheap consumer
durable imports, including air conditioners, freezers, washing machines and televisions, have met robust pent-up demand. Problems with electricity supplies have boosted imports of power generators, and thus diesel demand."
http://omrpublic.iea.org/omrarchive/13nov03full.pdf
International Energy Association - 11/03 Monthy Report......the trends have only continued - and accelerated -- since then.....
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