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Budget 2013 - Automobiles

Tuesday 19 March 2013

Luxury just got more expensive.

The Budget announced earlier this year, heralds more taxes for the SUV segment with an increase of 3 % more in excise duty from 27% to 30% in 2013. With the increase in excise duty, also be prepared for increase in import duty on car and SUVs from 75% currently to 100% in 2013-14. It is not just four wheel drives that will set your hearts palpitating, the two wheeler bikes are not far behind. Costs of bikes is also expected to spiral upward with the proposed hike in import duty from the erstwhile 60% to 75% in the coming year.

So who wins this year?

It will be the agricultural and transport vehicles primarily that are set to benefit from the Budget. A larger number of public transport vehicles to be bought via increased Government spend outlay and a drop in excise duty from 14% to 13% on chassis of diesel motor vehicles that is set to benefit the companies contributing to these segments.

Want the stalwart of the industry analyze the budget for you? Click here.

Looking to invest in the Automobiles sector? Click here to open an account with Kotak Securities.

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