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Wednesday
December 2018
10:14 PM IST
News Headlines
China will not seek to dominate; no one is in position to dictate us: Xi        Stopped earlier, four transwomen offer prayers at Sabarimala        India crash to 140 all out, Australia level series        Zaheer Khan Joins Mumbai Indians as Director of Cricket Operations        Indian national Hamid Ansari returns home after 6 yrs        Stalin proposes Rahul as next Prime Minister        Chief Minister Kamal Nath Waives Farm Loans, 2 Hours After Taking Oath        Pakistan releases Indian prisoner Hamid Nihal Ansari after 6 years        Philippines contestant Catriona Gray named Miss Universe        India vs Australia, 2nd Test: Visitors end Day 4 on 112/5, need 175 more runs to win        Mumbai: 5 dead, over 100 injured after massive fire breaks out at Andheri hospital        Prithvi Shaw ruled out of Australia Test series, Agarwal replaces him        Messi leads Barcelona to 5-0 win over Levante        Sri Lanka: Ranil Wickremesinghe takes oath as PM after SC verdict on crisis        Cambodia seizes record 3-tonne haul of African ivory        PV Sindhu scripts history, clinches maiden BWF Tour Finals title        Virat Kohli slams record-breaking 25th Test ton in Perth        Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        
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Business News
Audi to hike car prices by up to Rs 9 lakh from April
 
(New Delhi, Mar 16, 2018): German luxury car maker Audi today said it will increase prices of its vehicles by up to Rs 9 lakh from April 1 to pass on the impact of increased customs duty in the Budget.

The price across the entire model range will be increased by up to 4 per cent owing to the hike in the customs duty announced in the Union Budget, Audi India said in a statement.

The price increase will range from Rs 1 lakh to Rs 9 lakh and will be effective from 1st April, 2018, it added.

Audi sells a host of vehicles in India ranging from SUV Q3 with price starting at Rs 35.35 lakh to sports car R8 which is tagged at Rs 2.63 crore.

Audi India Head Rahil Ansari said, "The increase in custom duty and introduction of social welfare surcharge in lieu of an education cess (which is higher than the erstwhile cess) in the Union Budget made the increase in price inevitable."

The company has tried to absorb the impact of the increase in customs duty and has minimised the price hike, he added.

Seeking support from the government for luxury car industry, Ansari said,"There is no doubt that increase in car sales would definitely help the government in garnering more accumulated taxes."

In the Budget for 2018-19, finance minister Arun Jaitley had increased custom duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10 per cent to 15 per cent.

The government had also raised custom duty on specified parts/accessories of motor vehicles, motor cars, motor cycles from 7.5 per cent to 15 per cent.(PTI)


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KERALA NEWS
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INTERNATIONAL NEWS
China will not seek to dominate; no one is in position to dictate us: Xi
 (Beijing, Dec 19, 2018):Chinese President Xi Jinping on Tuesday vowed that his country will n
Pakistan releases Indian prisoner Hamid Nihal Ansari after 6 years
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NATIONAL NEWS
Indian national Hamid Ansari returns home after 6 yrs
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