New Delhi sources have reported that after posting a record year in 2017, Luxury car maker in India expects the Modi-led government to incentive hybrids and plug-in hybrids as they view it as a strong stepping stone for 2030 full electric ambition. While they feel a lower Goods & Service Tax (GST) and upper cap on income tax will help create demand for their cars.



Meanwhile Roland Folger, the chief of India’s largest luxury car brand Mercedes Benz pitching for incentive on hybrid and plug in hybrid said, “We want relaxation on personal income tax, as a key element of Union Budget 2018. Also, GST on goods attracting maximum (GST+ Cess) rates needs to be optimized. Additionally, there should be normalization of provisions and procedures under direct tax (most of the operations are based on circulars by CBDT)."

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Accordingly the year 2017 has been one of the best year for the luxury car makers in term sales in last five years. The overall luxury car market in India grew by 18% at 38,989 units in 2017 when compared to previous year's 33,050 units.


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SIBY HERALD

27/01/2018 05:00 AM