Only a few minutes back, we reported in detail about the Toyota cars getting dearer due to the increase in excise duties. Now, the news is that popular German luxury car manufacturer Audi is now working on to revise the prices of its cars owing to the increase in excise duty.
Michael Perschke, Head, Audi India commented on the new budget by saying, “The increase in excise and customs duty on large cars in this budget is very surprising. This increase comes at a time when the Indian automotive industry was finding favor with customers looking for better and efficient cars. We may now need to re-evaluate our pricing strategy in India. However we do welcome the positive announcements on increase of investments in infrastructure and encouragement to private investment which should drive higher growth in the economy. The revision and reduction of personal tax slabs will result in increased savings and possibly higher spends. The GDP growth forecast of 7.6 percent for next financial year also augurs well for the country and we expect India to remain one of the most vibrant consumer markets.’’
Overall, he rated the budget as 6 out of 10.