Budget highlights for Auto Industry

posted by   loveckt (6)   6 months ago (kedarparikh.blogspot.com)

Budget headlines:-

* Excise duty on small cars cut, reduced to 12% from 16%. * Excise duty down on 2 & 3 wheelers to 12% from 16%. * Excise duty on Hybrid vehicles reduced to 14% from 24%. * Customs duty on imported vehicles unchanged.

What this means is 2 wheels and small cars will be cheaper by around 4%.

Hyundai Motor India and General Motors today said they would slash prices by up to Rs 16,000.