HONDA-SIEL, BENZ, DAEWOO UP CAR PRICES BY 8-10%
Article Abstract:
Mercedes Benz India Ltd (MBIL) and Daewoo Motors India Ltd (DMIL) have increased the prices of their cars in the range from eight percent to 10 percent following hint from Honda-Siel. The rise in price was mainly due to four percent increase in import duty on auto components. MBIL's E class car range will have new prices with effect from July 15, 1998. The E200 model is priced at Rs23.7 lakh, E250D at Rs25.7 lakh, and E230 at Rs26.7 lakh in the state of Maharashtra. DMIL is raising the price with effect from July 5, 1998 of manual transmission by Rs4.97 lakh. The new on-road Mumbai price will be Rs6.29 lakh. The price of automatic transmission will be increased by Rs75,400 to Rs5.33 lakh. The on-road price in Mumbai will be Rs6.73 lakh. (gs)
Comment:
Increases the prices of its cars in the range from 8-10% following hint from Honda-Siel
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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COSTS OF AUTO PARTS WILL RISE: INDUSTRY
Article Abstract:
The Association of Indian Automobile Manufacturers (AIAM) has stated that the 5 percent cut on the allowable Modvat credit on inputs will lead to a price rise in auto components and the production cost of vehicles. The excise duty increase from 25 percent to 30 percent for multi-utility vehicles has also been opposed by AIAM. The auto industry feels that allocation for road infrastructure is low and that commercial vehicles sector has been left untouched by the government in the 1998-99 budget. The auto sector accounts for 4.5 percent of the GDP. The 8 percent special duty on imports will also affect the auto industry adversely. (rk)
Comment:
India: Assn of Indian Automobile Manufacturers says 5% cut on allowable Modvat credit on inputs to raise prodn cost
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NEW DUTY REGIME MAY JACK UP PRICES OF NEW CARS
Article Abstract:
The recent increase in the levy of the 4 percent import duty, 5 percent duty on cold-rolled steel and the excise duty on auto components by the Government of India are likely to affect the strategy of pricing the new small cars to be launched in 1998. The car manufacturers will take the lead from Maruti Udyog Limited (MUL) in the pricing of its Zen and 800 model cars. It has already increased the price of the Omni model. (rk)
Comment:
India: Pricing of new small cars might be affected by recent hike in levy of 4% import duty, 5% duty on cold-rolled steel
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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