Luxury car buyers lapped purchases ahead of an impending price hike, resulting in a brisk year on sales for most manufacturers in the year ended March, shows data released by some companies.
Finance Minister Arun Jaitley had announced in the Union Budget an increase in Customs duty on CKD (completely knocked down) import of motor vehicles, motor cars and motorcycles from 10 per cent to 15 per cent. The government also raised customs duty on specified parts and accessories from 7.5 per cent to 15 per cent. Luxury car manufacturers, who have so far refrained from passing on the
Finance Minister Arun Jaitley had announced in the Union Budget an increase in Customs duty on CKD (completely knocked down) import of motor vehicles, motor cars and motorcycles from 10 per cent to 15 per cent. The government also raised customs duty on specified parts and accessories from 7.5 per cent to 15 per cent. Luxury car manufacturers, who have so far refrained from passing on the