The free trade between Australia and Japan announced this evening, means a 5% tariff currently imposed on Japanese imported cars is expected to be dropped.
While we’re expecting details later this evening early reports suggest the price of an average Japanese imported car will fall by around $1500.
The list of car brands affected is a roll call of some hugely popular makes including Mazda, Toyota, Lexus, Nissan, Subaru, Mitsubishi, Suzuki and Isuzu.
Toyota and Mazda make Australia’s most popular cars. The Toyota Corolla was the best-selling car of 2013, and the smaller Mazda 3 held the title for the previous two years.
Toyota overall has been Australia’s best-selling car brand for more than a decade.
There’s more here.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.