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Auto Budget 2016: Luxury vehicles above Rs 10 lakh to be affected by 1 per cent cess
The ministry has proposed a 4 per cent cess on all SUVs that cost over Rs 10 lakh
The Union Budget 2016 has been announced by the Finance Minister Arun Jaitley. Among the new amendments, the ministry has proposed a one per cent cess on all luxury vehicles that cost over Rs 10 lakh. This decision has been taken to curb rising vehicular pollution.
While sub-4m SUVs like the Mahindra TUV300 and the sub-Rs-10-lakh trims of the Ford EcoSport will mostly remain unaffected, the prices of other popular offerings like the Hyundai Creta, Renault Duster, Mahindra...
First Published:Feb 29, 2016, 15:31:08 IST
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As Nissan expands its line-up from one model to four, the carmaker is betting on affordable SUVs, exports and ICE volumes before making its EV play
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