Luxury car makers seek tax cuts on automobiles in upcoming Budget

Luxury car makers Mercedes-Benz, Audi and Lamborghini expect the government to lower taxes on automobiles in the upcoming Budget, saying the premium segment of the auto industry has not been able to grow due to high taxation besides being hit hard by coronavirus. Any hike in taxes will hit demand and prevent recovery from the disruptions witnessed last year, according to senior officials of the companies.



January 17, 2021 at 11:51AM