Auto creator General Motors India has decreased costs of its different models by up to Rs 49,000 taking after the extract obligation cut crosswise over auto classifications affirmed then plan.
The organization has decreased costs crosswise over classes in the reach beginning from Rs 12,000 to Rs 49,000, General Motors India Vice-President P Balendran told PTI today.
Other automobile producers, incorporating business sector pioneer Maruti Suzukibse 0.44 % India, Hyundai Motor India, Mahindra & Mahindra and Honda Cars India, have additionally lessened costs crosswise over item classifications.
The extract obligation has been sliced to 8 for every penny from 12 for every penny for little autos, bikes, cruisers and business vehicles; 24 for every penny from 30 for every penny for Suvs; 20 for every penny for average sized autos from 24 for every penny and 24 for every penny for substantial autos from 27 for every per cent.
"This is only a short-term measure. The excise duty cut is going to be applicable till June 20. Even today the market sentiments are bad. The volume numbers are down even in this segment," he said, including that there has been a development in the smaller SUV fragment of in the ballpark of 34 for every penny, yet whatever remains of the fragments are all down.
"Similarly in the next three months, there can be a marginal improvement because of excise duty reduction. But going forward we can expect some sort of turnaround only when the election takes place and new government assumes office," he said.
"Last year we sold about 86,826 units, the previous year we sold about 92,000 units. Last year the industry closed at 3.2 million units and this year we are expecting the industry to touch 3.4 million.”
"If industry touches 3.4 million units, we should also be able to register a growth from 6 to 10 per cent," he said.