Budget impact on Auto Sector:
Pay (little) more for all cars, Stay away for diesel cars & SUVs
Small Petrol cars (Nano to i20 to Baleno) – 1% more
Small Diesel cars (Celerio diesel to i20 diesel) – 2.5 % more
SUVs/ Large Diesel cars (Scorpio,XUV500, Safari Storme) – 4% more
Luxury Petrol cars (Accord, Superb) – 1% more
Luxury Diesel cars (Fortuner, Trailblazer) – 4+1% more….
Here is what Jaitely announced during his Budget Speech
1% additional tax will be charged on luxury cars above Rs 10 lakh,” Jaitley announced. In a move aimed at checking pollution and encouraging use of hybrid cars, FM Jaitley also announced that a 1% infra cess will be levied on small petrol cars. A 2.5% infra cess will be imposed on diesel cars.
Jaitley also said that a 4% additional levy will be imposed on high-capacity passenger vehicles and SUVs.