New Delhi sources have stated that in order to promote local manufacturing, Finance Minister Arun Jaitley had announced an increase in basic customs duty by 5-7.5% on cars, bikes and SUVs, which are imported as completely knocked down (CKD) units as an effect to this announcement, luxury cars will get dearer by Rs 1.25-5 lakh, and this will jolt the demand of luxury cars.
On the recent announcement made by Finance Minister on the Union Budget 2018, Rahil Ansari, head, Audi India, said: “For the luxury auto sector, the Union Budget 2018-19 is a disappointing and is against the spirit of partnership. As a manufacturer, we have a core social responsibility towards our workforce and the dealer network.”
He added that Motorcycle companies like Triumph will be affected due to
the increase in tariff for CKD units and the luxury carmaker pointed that the
Budget definitely needed an inclusive view for the luxury automobile industry,
which would have helped the industry to rebound and create more jobs.
Launch of Hyundai Creta facelift for 9.44 Lakh According to sources Hyundai has launched the face lifted Creta SUV at Rs 9.44 lakh (ex-showroom, Delhi). Available in five trims, three engine options and a choice of two transmissions, the top-spec SX (O) MT diesel carries a price tag of Rs 15.04 lakh.
- JK Tyre added two OEMs of the segment
- Countries already set targets to reduce CO2 Emission from Trucks
- Buyers of electric two wheelers get incentive
- PV Sales growth increases by 17.44%
- Honda Scooter plant be temporarily shut for
- Tata Motors betting big on rural market & younger customer to drive growth
- Honda Cars in preparation of launch of all new Amaze by May 2018
- Cars to be launched this Forthcoming May 2018
- Centre postpones mandatory requirement to GPS equipment to all public transport vehicles till April 1, 2019
- Skoda plans to launch budget car in India
- Maruti Suzuki & Mahindra & Mahindra likely to bring new buyers to segment
- Maruti Suzuki crossover gets new lease of life with last year face lift
- Indian cities are more congested than other Asian countries
- Volkswagen luxury car maker Audi plans to launch products in double digits
- Why M&M share crashed at the end of Fiscal year 2018?