How prices of small cars go up ...
according to new revision
Numerous opinions began to surface about how vehicle prices would escalate after import duty levied on motor vehicles not exceeding engine capacity of 1,000 cc. from yesterday (1). The tax per unit for the normal vehicle has been fixed at Rs.1,500,000 from August 1st, 2018 while the tax per unit on Hybrid vehicles which can be electrically-operated as Rs. 1,250,000 has been revised in thismanner. However, this new tax would not be applicable to vehicles cleared before January 31st, 2019 in the case of August 1st, 2018, it is learned.
What Vehicle Importers Association say is that accordingly a Vanguard Hybrid vehicle would fetch 36 lakhs while a Japanese Alto would be priced at twenty seven and a half lakhs. According to this new revision, while certain vehicle prices would go up; prices of some other vehicles may come down. It is also reported that the price of many types of motor vehicles would come down.