Budget and Indian Auto Industry

Budget has made fuel prices expensive and hiked the central excise duty but the auto component manufacturers have heaved a sigh of relief. Thus, the budget gets mixed reviews from the Indian auto industry. "It's a good budget. It was a tightrope walk for the finance minister. He has tried to continue the growth stimulus with a lot of prudence," said Vishnu Mathur, Executive Director at the Auto Components Manufacturers Association.

Auto component manufacturers have been anticipating the excise duty hike but are smiling as the Finance Minister has not hiked service tax which was the main cause of worry for the people in business.

This makes the budget more or less industry friendly where the passenger car segment will experience a healthy growth but the commercial vehicle segment may be hit by increase in import duty as well as hike in fuel prices.

Since the dispensable income increases in the market, auto industry in India expects a robust growth in the year to come.

• Car sales in India to fall for the first time in last one decade           February 09, 2012
• 2012 Mahindra Xylo facelift launched with a starting price of Rs 7.37 lakh           February 09, 2012
• Volvo launches new 2012 XC60 at a starting price of Rs 34.4 lakhs           February 09, 2012
• Mahindra Xylo Mini MPV coming this Diwali season           February 09, 2012
• Mazda CX-5 to be launched this month at a price commencing from $20695           February 09, 2012
• 1963 Ferrari 250 GTO becomes the second most expensive car globally           February 09, 2012
• Porsche Cayenne inspires Lamborghini to develop SUVs           February 08, 2012
• M&M may see tough times ahead           February 08, 2012
• Honda Canada starts manufacturing 2012 CR-V in Alliston, Ontario           February 08, 2012
• Amity students storm through eighth leg of Maruti Suzuki Colours of Youth           February 08, 2012
• New Elantra and Sonata to hit Indian roads in coming months           February 08, 2012
• Hyundai Engineering may land contract for Hiranandani Group's new LNG terminal           February 08, 2012
• Facelifted 2012 Mahindra Xylo endorses next generation Mahindra design           February 08, 2012
• Hyundai Motors to sign a wage agreement proposed by the new union members           February 08, 2012
• Fiat India aims to reach maximum utilization of its Ranjangaon plant by end of this year           February 08, 2012