Web Analytics Business News This Week Impact of Excise Hike on Car Sales | Business News This Week

May 11, 2012

Impact of Excise Hike on Car Sales

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Impact of the hike of two per cent excise duty on cars was clear visible as the sale of passenger cars witnessed rise of 3.4 per cent in April 2012 comparing the figures of April 2011.

1,68,351 units of cars were sold in April this year comparing 1,62,813 units sold in the April 2011. The car cars rose by 5538 unit in last decade (3.4 per cent). According to the figures released by the Society of Indian Automobile Manufacturers (Siam) on Thursday.

The hike in the excise duty in the budget and the interest rate hike by the apex bank could be the major reason hitting the car sales as experts believe. The hike in car prices due to hike in excise also weigh high on the car sales this year.


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