India-UK Trade Deal: When will electric cars be cheaper? Go here full details

India-UK Trade Deal: When will electric cars be cheaper? Go here full details

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India-UK Trade Deal: India has given import duty to UK auto exporters only on big petrol, diesel and expensive electric vehicles. There will be no discount on small and mid size cars.

India-UK Trade Deal: When will electric cars be cheaper? Go here full details
New Delhi. India has given import duty exemption to UK auto exporters only on large petrol and diesel trains and expensive electric vehicles, while small and mid -size cars and low -priced EVs are preserved under bilateral trade agreement. That is, there will be no discount in import duty on them. This also means that FTA will not have any effect on their price.

No discount for 5 years
No concession has been given to electric, hybrid or hydrogen-guard vehicles for the first 5 years of the agreement. That is, by 2030, there will be no discount on electric cars, hybrids or green fuel vehicles. However, no budget cars are currently imported from the UK. But in this time frame, if such models are brought to India from the UK in the future, then they will not get a discount on import duty.

These models will not get concession

Under the agreement, India has offered the UK phased and quota-based Libelai in the automobile sector, limited to Complete Built Units (CBU). These include petrol-diesel vehicles and green fuel vehicles such as electric, hybrid and hydrogen-retarded models, however, in the initial stages, green fuel vehicles such as electric, hybrid and hydrogen -ward -ward models are out of this concession.

Rebate will be given after 5 years
There will be tax exemption from the sixth year of the electric vehicles agreement., And even then it will be only for luxury models that cost more than £ 80,000. Vehicles priced less than £ 40,000, mostly mass-market EVs, are deliberately excluded from the tax release. Let us tell you that recently the free trade agrected between India and the UK has been signed, so that import duty will be reduced on many goods to be exported between the two, not only the car.

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New Delhi,Delhi

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India-UK Trade Deal: When will electric cars be cheaper? Go here full details

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Rolls Royce, Jaguar Land Rover, McLaren! Luxury cars can be cheaper up to Rs 90 lakh

Rolls Royce, Jaguar Land Rover, McLaren! Luxury cars can be cheaper up to Rs 90 lakh

by with No Comment Car Review

New Delhi. It is going to be very easy for Indian customers to buy luxury cars priced worth crores like Rolls Royce, Jaguar Land Rover, McLaren and Bentley cheaply. Their price can be so low that you can easily survive up to one or two lakh rupees, but up to crores of rupees. The recent free trade agreement between India and Britain has been done, which will make it very easy to import cars in Britain to India and important duty on them will be reduced considerably than before. In such a situation, you will be able to buy these cars at a very low price.

Effect of FTA
Under the FTA, customs (import duty) on cars being imported from Britain to India will be drastically cut, which will reduce the prices of these cars. Currently, up to 100% import duty is imposed on luxury cars imported from Britain, but after FTA it can be reduced to 10%. Accordingly, import duty will be reduced by 90 %.

Jaguar Land Rover (JLR)

JLR cars, such as range rover and defender, will also have a direct impact, after the import duty decreases by 90 %, the price of JLR cars is going to be a big impact. Which will reduce their prices.

Local assembly
JLR is also planning to assembling a local of some of its models in India, which can reduce prices further. According to an estimate, if the JLR starts assembled by the defender, then its price may decrease by up to 20%. Apart from this, a similar effect is expected to have a similar effect on the price of other luxury cars like Rolls Royce.

Low burden on buyers' pockets
Due to FTA, Indian customers will now be able to buy these luxury cars close to global prices, which will cost less on their pockets. On some models, such as Defender, FTA made in Slovakia will not have a direct impact, but starting the local assembly of JLR can reduce prices.

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Auto industry, Tata Motors, M&M, Maruti shares panicked by the news of Tesla's arrival

Auto industry, Tata Motors, M&M, Maruti shares panicked by the news of Tesla's arrival

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New Ev Policy: Due to the new EV policy, the shares of Tata Motors, Mahindra & Mahindra and Hyundai Motor India declined by 6%. Preparations for Tesla's entry into India feared to increase competition for domestic companies …Read more

Highlights

  • Tata Motors, M&M, Hyundai shares fall by 6%
  • New EV policy feared to increase competition for domestic companies
  • Stock market stirred by Tesla's preparation for admission to India

New ev policy: On 21 February, Tata Motors, Mahindra & Mahindra (M&M), and Hyundai Motor India shares saw a decline of up to 6%. This decline has taken place by the government amid discussion of relaxation in electric vehicles (EV) import rules. This step can make it easier for foreign companies to enter the Indian market, due to which there is a possibility of increasing competition for domestic automakers. Preparations for entry of global companies like Tesla into India have given this discussion further warm.

Mahindra & Mahindra shares saw the biggest decline in about 7 months, which reached ₹ 2,653. Tata Motors shares fell 2% to ₹ 676 and Hyundai Motor India shares fell 2.5% to ₹ 1,875. This decline is believed to be because Tesla has started fast efforts to sell his cars in India.

According to Moneycontrol report, Alan Musk's Tesla Inc. can enter the Indian market through direct imports, not through local production. To facilitate Tesla's entry into India, the government is considering a decrease in EV import duty. Apart from this, extensive exemption can also be given in EV import rules.

Change in import duty
The government has reduced basic custom duty (BCD) to 70 percent on fully prepared electric vehicles priced more than $ 40,000. However, an additional 40 percent of the Agriculture Infrastructure and Development Cess (AIDC) has been imposed. 10 percent of Social Welfare Surcharge (SWS) is exempted, resulting in an effective import duty for electric vehicles above this price point to 110 percent. The import duty for electric vehicles priced below $ 40,000 remains at 70 percent.

Reacts in the stock market
After this news, the Nifty Auto Index saw a decline of 2.5%, which reached 21,534 points. The decline in shares of major companies like Tata Motors, M&M, Hyundai Motor India, Maruti Suzuki and Bajaj Auto affected the index. The Nifty Auto Index has seen a decline of about 6% from the beginning of this year.

Possible changes in electric vehicle policy have shaken the Indian automobile sector. The entry of global companies like Tesla will increase competition in the Indian market, but it will also be a big challenge for domestic companies. This policy of the government is an important step towards making India a major player in the global EV market.

Location:

New Delhi,New Delhi,Delhi

First Published:

February 21, 2025, 12:12 IST

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Auto industry, Tata Motors, M&M shares panic due to the news of Tesla's arrival

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Tesla will enter India after the tax decreases! How cheap will Harley Davidson bikes be?

Tesla will enter India after the tax decreases! How cheap will Harley Davidson bikes be?

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India has cut import duty in the 2025 budget, which may make it possible to return to Harley-Davidson and Tesla to India. Harley's bikes will be cheaper and Tesla can also enter.

The government has reduced import duty on imported cars and bikes in budget 2025.

Highlights

  • Harley's bikes will be cheaper by cutting import duty in India.
  • Tesla's entry possible in India, after a long talk with the government.
  • Luxury cars were reduced from 125% to 70%.

New Delhi. India has been a country of imported cars and motorcycles for a long time, even before foreign vehicle manufacturers started selling vehicles officially in India. However, most of them were from Japan and Europe. American car manufacturers tried their luck in Ford and Chevroolet India, but due to poor sales they had to stop the sale of their cars in India. Now, with the cut in import duty, can such companies return? Or can new car makers enter India?

In the budget announcement of 2025, India cut import duty for high-end motorcycles, cars and smartphone parts. Since then, there is a lot of discussion about two American brands. They are Harley Davidson and Tesla. Harley first entered India in 2010 and was out after about 10 years. After this, the brand again entered the Indian market. But, due to heavy tax, its price has always been a concern for the company.

How cheap will Harley's bikes be?
Now, Harley will benefit here due to the reduction in import taxes for CBUs with engine capacity of up to 1,600 cc. The company will also benefit in the case of Semi-Nock Down (SKD) units as they have seen a 5 percent decrease in tax, while a fully knocked down (CKD) units will be charged only 10 percent instead of 15 percent.

Tesla's entry also possible
It will also make a way for Tesla to enter India after a long battle with the Government of India, which is asking Tesla to set up a factory in India. In the budget announcement, the tax was reduced from 125 percent to 70 percent for luxury cars including station wagons and recarks priced above $ 40,000 (Rs 35 lakh).

Location:

New Delhi,Delhi

First Published:

February 10, 2025, 16:30 IST

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Tesla will have entry in India! How cheap will Harley Davidson be?

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Germany urges compromise in EU-China EV dispute

Germany urges compromise in EU-China EV dispute

by with No Comment car updates

By: AFP
, updated on: 02 November 2024, 10:02 am

  • The German automotive sector condemned the recent tariffs, calling them harmful to business and employment.
Germany voted against the additional tariffs and has urged both Beijing and Brussels to find a compromise. (AFP)

The German government on Wednesday urged the EU and China to reach a compromise, a day after Brussels announced additional tariffs on Chinese-made electric cars.

“Both Brussels and Beijing are being urged to find sustainable and creative solutions through ongoing dialogue,” said Stefan Habestreit, a spokesman for Chancellor Olaf Scholz, in Europe's biggest economy, whose key auto industry is beset by problems. .

Germany voted against additional tariffs, measures which Habestreit said would “naturally draw a reaction from the Chinese side”.

Also read: Chinese EV makers see decline in EU sales as tariff dispute deepens

“These kinds of trade disputes are not something we should even aspire to,” he told a news conference.

New tariffs of up to 35 percent were announced by the European Commission on Tuesday after an EU investigation found that Chinese state subsidies were undermining European automakers.

Beijing said on Wednesday it had filed a complaint with the World Trade Organization, with China's commerce ministry vowing to “take all necessary measures to firmly protect the legitimate rights and interests of Chinese companies.”

Negotiations are ongoing between the EU and China and the tariffs could be lifted if both sides reach a satisfactory agreement.

Suggested Watch: Volkswagen Virtus crosses 50,000 sales mark in India but what made it so popular?

On Tuesday, Germany's Automotive Industry Association, which represents car giants such as Volkswagen, BMW and Mercedes, called the tariffs “a step backward for free global trade and thus a step back for prosperity, job protection and growth in Europe.” told.

Volkswagen warned on Wednesday that “painful” cuts were on the way as it announced a fall in third-quarter profits due to falling sales in China, its biggest market.

At least three German VW plants are at risk and thousands of jobs at the namesake brand could be lost, labor representatives said this week.

Get information about upcoming cars in India, electric vehicles, upcoming bikes in India and cutting-edge technology that is changing the automotive landscape.

First publication date: 02 November 2024, 10:02 am IST

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