Foreign used car dealers can now import older vehicles for sale in the country.
The Ministry of Trade and Industry said it secured Cabinet approval for the revision of the policy to regulate the used car industry to include, among other things, the extension of the age restriction on the importation of used vehicles from four to six years.
"This new-age restriction will allow cars manufactured from the year 2005 to be imported into the country and will come into effect on September 1," the ministry said in a statement.
Customers are advised that a revised warranty system, which covers the first three-month period after the date of purchase, will be implemented to cover this new regime, the ministry added.
Minister of Trade Stephen Cadiz said in the statement he acknowledged the significance of the used car industry as it "continues to contribute significantly to the national economy through the creation of employment and the provision of affordable transportation".