Page 55 - 60 YEARS NISSAN NIC. J. THEOCARAKIS S.A.

1971-1980 Σε πλήρη ανάπτυξη 1971-1980 The momentum of growth
exchange rate led to a 56% increase in retail prices. Moreover,
in the third quarter of 1974 a complete ban was imposed on imports in the wake of the events in Cyprus – a measure that was lifted in the last three months of 1974, when democracy was reinstated in Greece. Although the key components of
car taxation remained unchanged until 1976, no adjustments were made to the tax scale despite the increase in factory prices in 1973, resulting in the so-called small cars being taxed as luxury goods. The Association of Motor Vehicles Importers Representatives objected and eventually the Law 341/1974 was enacted, in order to ease taxation on small cars, though without abolishing the luxury tax. The framework changed the following year, when tariffs for cars were based on cubic capacity. As
of June 1976, the Excise Tax was set at 50 drachmas per c.c.
for all cars up to 1.2 litres; for higher capacities it increased to 100 drachmas per c.c. This resulted in a plethora of 1.0-1.2-litre versions, specifically manufactured for Greece, while the government’s backtracking on the sales on credit issue was yet another factor that plagued the market. Nic. J. Theocarakis S.A. had, as we noted, through the models it imported, the solution.
During the decade 1971-1980, a period of recovery for the Greek market and particularly between 1977 and 1980, Nic. J. Theocarakis S.A. continues to expand its operations into the Greek market, due to
the Datsun cars, which by then
could effectively meet the diverse requirements and needs of the consumer public.
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