Mercedes, BMW, Renault, Audi, Land Rover cars to get dearer
It’s a bit of depressing news for those who plan to lose their wallet this season for buying luxurious cars due to their increased prices following increased tax rates on domestically assembled cars. The recently increased customs duty by the Indian government to 30% from 10% is the main reason behind this price rise.
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Peter Honegg, chief executive officer and managing director, Mercedes Benz India gave a hint that the price rise will comply within a few weeks due to the new policy regulation . Also the new Mercedes Benz S class will reach the market in 4-6 weeks with a revised increased price tag by Rs 8 lakh, and then it would be sold to more than 1 crore.
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Industry experts also fear that the premium car sale will hit due to this increased levied tax
The other luxurious counterparts like Audi, BMW, Renault and Land Rover also plan to a price rise as told by company officials.
The facilities like rising incomes, easy car financing, better loan options and nominal customs duty created interest in folks to buy these luxurious cars by doubling its sales to 15,000 in fiscal year 2010-11.
Michael Pershke, chief executive officer, Audi India also announced to restructure their production strategy complying with government policy.
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Renault a French origin car maker is also in a mood to uplift the price of its sedan Renault Fluence by up to 2 lakh churning out from its Chennai facility. The increased price would be reflected in the price line of new Florence in the weeks to come
Land Rover's sports utility vehicle Freelander 2, which is currently manufactured in Tata Motors's facility in Pune, will be sold for increased price by Rs 3-5 lakh. the luxury car makers are worried for this constant rise in taxes and duties.
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