The higher cess is unlikely to come into effect before September 9, the next date for the GST Council’s meeting in Hyderabad
The new Skoda car sits in a white space as the lower end of the Monte Carlo will compete against the middle variants of the Honda City and to-be-launched Hyundai Verna.
Here's a wrap of the key developments in the automotive space during the week.
Taxes on the Scorpio, M&M's second highest-selling utility vehicle (UV), surged to 43% from from 30% under GST on the hybrid version
The 45-year-old southpaw, who led Australia to several victories including some memorable tests played in India, joined the board last year along with two other Australians.
The week saw several important developments – from start of a new partnership to break-up of a promising one, from launch of a new SUV to a shocking rise in cess on big vehicles. Here is the complete list of the all stories that made headlines this week.
MSIL Chairman R C Bhargava stressed the need to keep pace with changing technologies
Wholesales volumes are expected to come under pressure in some of the JLR’s premier markets like the UK and the US
Automotive industry needs a predictable, systematically planned route that is not subject to indiscriminate deviations, says Roland Folger of Mercedes-Benz India.
Baleno, Brezza topped the growth charts during July even as both models together control one-fifth of total domestic volumes of Maruti Suzuki.
Sedans like Honda City, Maruti Suzuki Ciaz, SUVs like Hyundai Creta and Toyota Fortuner, entire luxury car range of Mercedes-Benz to Volvo will see the jump in prices. Prices of Jeep Compass will also rise.
While the Motor Vehicle Tax Rules provided for exemption from payment of tax for some charitable, cultural, welfare or philanthropic institutions. The government has not issued any notification listing eligible institutions for allowing such exemption under the Rules.
The USD 778 million deal follows the lifting of international sanctions after Iran's 2015 nuclear agreement with world powers.
Germany's financial regulator says it is checking whether automakers Daimler and Volkswagen violated securities disclosure rules by not telling investors about any self-reporting they may have done to regulators about possible collusion.
Tesla Inc said on Monday it would raise about USD 1.5 billion in a bond offering as the U.S. electric car maker ramps up production of its newest sedan, the Model 3.
Under the new GST regime, cars attract the top tax rate of 28 per cent. On top of this, a cess of 1-15 per cent is levied on them to create a corpus to compensate states for loss of revenue from GST implementation.
Maruti Suzuki Baleno, which was earlier sitting at the 5th spot, has gained 3 spots to become the runner-up in the top 10 selling cars of July 2017 with 19,153 units sold, this is also the highest ever sales of Baleno in a single month.
Overall Maruti Suzuki has recorded highest ever monthly sales in July 2017 with 1.65 lakh units marking a 20% growth. The UV segment grew by 48.3% to 25,781 units as compared to 17,382 units in the corresponding month last year.
However, environmentalists said the plan - almost two years after Volkswagen admitted to cheating U.S. diesel emissions tests - was too little, too late, and vowed to press ahead with legal action aimed at banning polluting vehicles.
The MG Group partnership will be responsible for designing and manufacturing of coaches of premium buses for sale in India
The Union Minister urged vehicle makers to give up diesel, considered as a major source of air pollution, and adopt greener means like electric, ethanol and bio-CNG as fuel
The top end variant of the Jeep Compass will come at Rs 20.65 lakh. Fiat Jeep Compass will compete with Tata Motors Hexa and Mahindra XUV500.
Industrial output rose 1.6 percent in June from the previous month, just below the median estimate for a 1.7 percent increase and following a 3.6 percent decline in May.
Flashy styling, unconventional looks and loads of features make the Nexon a real challenger in the compact sports utility vehicle.
Carmaker Volkswagen said on Thursday it would offer to refit almost a million more diesel cars in Germany to reduce harmful emissions, as the country's auto industry is racked by overlapping scandals.