Reviewing the rising price of crude oil in the world, government has imposed an additional fuel-guzzler duty over and above the regular 24% excise duty on heavy cars, mid-sized cars, multi utility vehicles (MUV) and sports utility vehicle (SUV) by ranging Rs.15,000 to Rs.20,000 depending upon the engine size and nature of the vehicles.
‘The main aim of the government behind this duty slapping looks to lead the gas cars that are entering in the market in all segments,’ as market experts assumes.
There are around 80 percent of users, who use small size cars in India, but now the trend is changing and people are shifting rapidly to bigger ones and the new duty would discourage the customers to buy the big one. While the cars with inbuilt gas kit are going to hit the market on large scale in all segments, the buyers will prefer it due to lesser price of LPG and CNG.
The car that has the engine size of over 2000 cc would be expensive by Rs.20,000, while the cars containing engine size of ranging 1,500 to 1,999 cc would come in Rs. 15,000 more price.
Moreover, the MUV and SUV such as Tata’s Sumo, Siera, Safari, 207 and Mahindra & Mahindra’s Scorpio, Bolero, Pik up, Toyota Innova, Chevrolet Tavera would also be more costly and will come in Rs.20,000 more in price.
The cars having less than 1,500 cc will not be affected from the tax. In this segment, Maruti’s 800, Alto, Omni, Wagon R, Hyundai Santro, i10, Tata Indica, Cheverolet Spark and many small cars would not be affected with this new tax.
On the other hand, Maruti SX4, Hyundai Verna, Honda Accord, Honda Civic and Renault-Logan and Chevrolet Optra would cost Rs.15,000 more.
In big cars, Audi, Daimler Chrysler and Skoda, Mercedes Benz, and BMW would now come in Rs.20,000 more. While the luxury and imported cars will also fall in the upper tax limit.
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