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Thursday
April 2018
9:20 PM IST
News Headlines
Nawaz Sharif, daughter leave for London        Former US first lady Barbara Bush dead at 92        Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’        Kathua rape ‘barbaric’, says President Kovind        KKR breach Rajasthan fortress at Jaipur, beat RR by 7 wickets        Virat Kohli downbeat despite smashing IPL run record        BJP ministers in J&K government asked to resign, to be replaced with new faces        Banks are unable to meet the demand for cash, says ATM industry        India, Sweden to enhance cooperation in defence, cyber security        Castro set to step aside as Cuban president, his reforms incomplete        Mumbai outplay Bangalore in IPL tie        Kolkata Police summons cricketer Mohammed Shami in domestic abuse case        10-man Bengaluru FC thrash Mohun Bagan to set up Super Cup final with East Bengal        Countrywide protests demanding justice in Kathua and Unnao rape cases        Former FBI director James Comey makes shocking claims about Trump        Prince Harry, Meghan Markle to work as Commonwealth youth ambassadors        Manchester City crowned Premier League champions as?Manchester United drop points        IPL-2018: KKR canter to 71-run win over Delhi        Watch Video: Mumbai Indians vs Delhi Daredevils / Pre-match analysis        Putin: attack on Syria act of aggression        
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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
Nawaz Sharif, daughter leave for London
 (Islamabad, Apr 18, 2018):Former Pakistan Prime Minister Nawaz Sharif and his daughter Maryam
Former US first lady Barbara Bush dead at 92
India, Sweden to enhance cooperation in defence, cyber security
Castro set to step aside as Cuban president, his reforms incomplete
NATIONAL NEWS
Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’
 (New Delhi, Apr 18, 2018):Hitting out at Prime Minister Narendra Modi for his long silence ov
Kathua rape ‘barbaric’, says President Kovind
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