Budget 2015: Unlikely to have any major impact on auto sector, says IDFC

Following are the impact analysis of the Budget proposals for the auto sector, according to brokerage house IDFC SecuritiesMeasure: Customs duty on commercial vehicles has been increased from 10% to 40%. Tariff on CKDs will remain at 10%, while vehicles imported in any other form will attract a duty of 20%.Impact: Neutral Imports are a miniscule portion of total sales, hence the impact is fairly limited. At the margin a positive for domestic players.Measure: Thrust on electric vehicles - a setting up a fund of Rs75 crore to promote electric vehicles. Concessional duties on EV parts extended by a year to 2016. Impact: Neutral. At the margin, a small positive for M&M's electric vehicle program