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Article: Car makers term excise duty hike as anti growth for industry.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 15, 2008
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Car makers term excise duty hike as anti growth for industry
New Delhi, Jun 15 (PTI) -- The government's decision to increase the excise duty on vehicles with higher engine capacities has not gone well with carmakers as they think this move will affect growth of the sector.
Various industry players felt that this increase would further hit the auto sector, which has already been affected by rising input costs, inflation, costly finances and fuel prices hike.
"This unprecedented excise duty hike will adversely affect the large car, SUV and MUV markets in India. We are trying to maintain our prices as much as possible, but we have no choice but to ...