Big news for those buying a new car: all categories of vehicles including cars, bikes will be cheap
Big news for those buying a new car: all categories of vehicles including cars, bikes will be cheap; Government said – will announce soon.
If you are planning to buy a two-wheeler and four-wheeler car, including a car, motorcycle, and scooty, then there is relief news for you. The central government can provide a big relief to the Indian auto industry, which is facing heavy pressure and lethargy due to the lockdown implemented due to the Corona epidemic. In fact, the government is considering a 10 percent reduction in the GST rate on all types of vehicles.
Minister of Heavy Industries and Public Enterprises Prakash Javadekar said on Friday that the government was considering the automobile industry’s demand for a 10 percent reduction in the GST rate on all types of vehicles. The government is going to announce it soon.
Industry badly affected due to coronavirus
India’s automobile industry has been badly affected by the outbreak of coronavirus. The production of vehicles remained completely closed in lockdown and demand remained negligible. Vehicle manufacturing’s April sales report data was zero. However, now that the industry is recovering, demand has picked up.
SIAM President Rajan Vadhera said the passenger vehicle segment witnessed the longest slump in the last two decades. Similarly, commercial vehicles faced the second-longest recession in the last 15 years. He said that the two-wheeler vehicle segment has also seen a continuous slowdown for six quarters.Big news for those buying a new car will give optional for you.
Maruti Suzuki MD & CEO Kenichi Ayukawa said that we can say that we have made a comeback in August compared to last year. However, it would not be correct to compare with last year, as the industry had recorded negative growth of 15-25% during that time. This has left the industry behind for many years.
The government will bring vehicle scrap policy
Prakash Javadekar said that the government has received inputs from various stakeholders and an incentive-based vehicle scrap policy is ready. It will be announced soon. It is noteworthy that the auto industry is demanding timely implementation of the vehicle’s scrap policy to cut GST rates and revive demand in the post-Corona virus crisis. Vehicle sales in the domestic market declined by 75 percent in the first quarter of the current financial year.
Sales will increase in the festive season
Explain that due to the Coronavirus epidemic and lockdown, the pace of the auto industry was halted. At the same time, now auto companies will want to take full advantage of the festive season. The festive season is on the way. In such a situation, after the statement of Finance Minister Nirmala Sitharaman, it is believed that two-wheelers can be cheap before the festivals. After the vehicles become cheaper, their demand will increase.Big news for those buying a new car for this season.