Import Tax Slashed By 50%

[Rebel]

Actually the 2nd hand market will be effected from tomo. All it takes is for interested buyers to say "market price for this is now lower" after a few of these guys get to sellers who are in dire need to sell, well the word gets around. And WOM spreads faster than wildfire

[harshansenadhir]

  Rebel said:

Actually the 2nd hand market will be effected from tomo. All it takes is for interested buyers to say "market price for this is now lower" after a few of these guys get to sellers who are in dire need to sell, well the word gets around. And WOM spreads faster than wildfire

in contrary, vehicle market shoot up amidst all claims of a tax reduction is around the corner and that boom was artificial/created. Similarly it wouldn't make a significant impact although prices would suppose to come down of vehicles which haven't really reached the shores yet. Second hand market will impact one day if a buyer can say, i'd rather buy an unreg or brand new paying few more lacks. Not few more millions.

[samanp]

Still not sure how the prices will change but as a long waiting buyer I am happy if unreg Swift comes down to 20 - 2.1 mil :-)

[SeanD]

Hopefully everything will be removed in time to come, and car prices will go back to the figures they were in 2003-2004. :jumping-smiley-013: :jumping-smiley-013: :jumping-smiley-013: :jumping-smiley-013:

[kaushama]

Well! Market prices will be having an impact very soon. Current upsurge of prices of secondhand cars can not be explained by simple logic. We know that people were not selling good secondhand vehicles for some time. But to have a price hike around 2-4 lakhs for each vehicle within two months is nothing but market manipulation.

Who is going to buy a car for an absurd price right now, when there is a chance of a price reduction for both recons and brand new cars? If this tax reduction is not going to have an impact for the unregistered car market, what is the purpose of government's doing it? Government wants to open up the market and get more revenue out of it. That was the rationale behind and this is a brainchild of one top official in the treasury.

I am sure those market manipulators will have to keep their wrecks at their sale places and stare at the empty roads these days. That will certainly bring down the prices. I am sure people will start selling their cars as well, when more light is shed to the tax reduction particulars as they would want to buy new cars. But it will take good two or three months. Till then market will be very slow and dull.

There is a good possibility that government would start giving permits to doctors and other professionals again. That was on the cards when this tax reduction news leaked few months back. So market manipulators it is time to rethink your strategies!!!!

[fatjoe]

All In all, What would be the final price slash dat we can expect? (In %)

I was telling some of da guys at office dat dis might bring da prices of vehicle by 50% like something which was sold at Rs. 100 now Rs. 50. I realized dat I am completely wrong.

[rangerover]

  fatjoe said:

All In all, What would be the final price slash dat we can expect? (In %)

I was telling some of da guys at office dat dis might bring da prices of vehicle by 50% like something which was sold at Rs. 100 now Rs. 50. I realized dat I am completely wrong.

Ya, such a drop would greath havoc in the market. Such a large wealth drop affects the economy badly, given the fact that the car most probably is the largest or the second largest investment that people have been making over the last few years

[Thanushka]

I heard tax on Maruties (Indian s**t) would come down from 180% to 90% according to news. Hope same happen for the Japanese and Other vehicles. Unless Govt is showing special favor to India.

[lasi]

  kaushama said:

Well! Market prices will be having an impact very soon. Current upsurge of prices of secondhand cars can not be explained by simple logic. We know that people were not selling good secondhand vehicles for some time. But to have a price hike around 2-4 lakhs for each vehicle within two months is nothing but market manipulation.

Who is going to buy a car for an absurd price right now, when there is a chance of a price reduction for both recons and brand new cars? If this tax reduction is not going to have an impact for the unregistered car market, what is the purpose of government's doing it? Government wants to open up the market and get more revenue out of it. That was the rationale behind and this is a brainchild of one top official in the treasury.

I am sure those market manipulators will have to keep their wrecks at their sale places and stare at the empty roads these days. That will certainly bring down the prices. I am sure people will start selling their cars as well, when more light is shed to the tax reduction particulars as they would want to buy new cars. But it will take good two or three months. Till then market will be very slow and dull.

There is a good possibility that government would start giving permits to doctors and other professionals again. That was on the cards when this tax reduction news leaked few months back. So market manipulators it is time to rethink your strategies!!!!

I strongly agree. Unreg market will also be affected. It should and it will.

[Pericles]

I'm somewhat annoyed about the reasoning coming for the reduction. Tourism? Really? Not to grant relief to the people? From the same folks keep spouting isolationist BS and preaching the evils of those outside of this country? Damn!

[L board]

Second hand vehicle market will crash within 3 months. Because from last night, no one wants to buy. Everyone wants to wait. Which means no one can sell now but many would want to sell now to minimise the loss. So the simple demand supply theory should work on price. From last night, the demand for second hand vehicles went on a nose dive (because no one wants to buy right now. They want to wait and see) and the supply of second hand vehciles increase (to minimise loss of future price reductions). This should bring down the vehicle prices substantially within the next 3 months. By 6 months time, it the market will stabilize.

An eg8 would go for between 600,000- 700,000

NZE 121: Rs 1,600,000 - 2,000,000

N16: Rs 1,100,000 - 1,300,000

ES8 VTI: Rs 1,700,000 - 2,100,000

[Elvis_Pil]

Well newer cars in the city are sign of economic prosperity and thereby stabilty- which would help boost the country's good rep amoung the international community. There was also a rumor that there were not enough luxary cars for the Bollywood awards

  Pericles said:

I'm somewhat annoyed about the reasoning coming for the reduction. Tourism? Really? Not to grant relief to the people? From the same folks keep spouting isolationist BS and preaching the evils of those outside of this country? Damn!

[L board]

  L board said:

Second hand vehicle market will crash within 3 months. Because from last night, no one wants to buy. Everyone wants to wait. Which means no one can sell now but many would want to sell now to minimise the loss. So the simple demand supply theory should work on price. From last night, the demand for second hand vehicles went on a nose dive (because no one wants to buy right now. They want to wait and see) and the supply of second hand vehciles increase (to minimise loss of future price reductions). This should bring down the vehicle prices substantially within the next 3 months. By 6 months time, it the market will stabilize.

An eg8 would go for between 600,000- 700,000

NZE 121: Rs 1,600,000 - 2,000,000

N16: Rs 1,100,000 - 1,300,000

ES8 VTI: Rs 1,700,000 - 2,100,000

Ah this also means that our networth has come down too as well

[L board]

http://www.autolanka.com/ad.asp?ID=26246

Rs 4,825,000.00

Beetles singing.....Dream, dream dream dream dream

[Chris0628]

  L board said:

http://www.autolanka.com/ad.asp?ID=26246

Rs 4,825,000.00

Beetles singing.....Dream, dream dream dream dream

yeah bro... & for another 0.5 mill (http://autolanka.com/ad.asp?ID=27307) u can get the Axio - G Grade .... so who would wanna pay 4.8m for a 121 ?

Dream Dream Dream

[Chris0628]

  L board said:

http://www.autolanka.com/ad.asp?ID=26246

Rs 4,825,000.00

Beetles singing.....Dream, dream dream dream dream

Hey... Maybe this is one of those 22km/l tuned cars ?

[Thanushka]

Bad news guys, some ppl says this tax reduction want last long, As the Govt says the main focus in tourism on this, ASAP the requirement full filled, they will lift the taxes again. (currently even 5 star hotels like TA are offering low grade vehicles for some tourists). Hope this will not happen.

[fatjoe]

  Chris0628 said:

Hey... Maybe this is one of those 22km/l tuned cars ?

22km/l tuned car belongs to Crisco Nihal. Hahahahah. His Uncle is here.

[fatjoe]

An eg8 would go for between 600,000- 700,000

NZE 121: Rs 1,600,000 - 2,000,000

N16: Rs 1,100,000 - 1,300,000

ES8 VTI: Rs 1,700,000 - 2,100,000

If this is the case I defa wanna get ma hands on a 121.

[Pericles]

  Elvis_Pil said:

Well newer cars in the city are sign of economic prosperity and thereby stabilty- which would help boost the country's good rep amoung the international community. There was also a rumor that there were not enough luxary cars for the Bollywood awards

Again, I thought the campaign premise for the current bunch is "we don't give a damn about the international community".

I thought about this IIFA scenario. Not sure it makes sense. For one thing, its next week, they can't order an ship a bunch of cars in that time. Unless they have a stock in the port that just needs to be cleared (wouldn't put it past our ..... boys ... to try something like that, actually). Also, I'm not sure, is this a blanket reduction? The IIFA ppl are looking specifically for S class. There is still luxury taxes on those. And I'm not sure, but I thought someone said this was for below 1.6? I actually want to get that clarified.

Unless the stars go about in Maruti Esteems and the Indians have a shipment waiting to be sent over

[Nitro]

I received an email with below chart,but not sure whether this is correct or not..

Petrol

Engine Capacity/CC

Bellow 1000 FROM 187% TO 90%

1000 to 1600 FROM 217% TO 115%

1600 to 2000 FROM 299% TO 150%

2000 to 3000 FROM 299% TO 150%

Over 3000 FROM 299% TO 190%

Diesel

Engine Capacity/CC

Bellow 1000 FROM 412% TO 179%

1000 to 1600 FROM 510% TO 185%

1600 to 2000 FROM 524% TO 271%

2000 to 3000 FROM 524% TO 271%

Over 3000 FROM 524% TO 290%

Edited June 2, 2010 by Nitro

[L board]

  Nitro said:

I received an email with below chart,but not sure whether this is correct or not..

Petrol

Engine Capacity/CC

Bellow 1000 FROM 187% TO 90%

1000 to 1600 FROM 217% TO 115%

1600 to 2000 FROM 299% TO 150%

2000 to 3000 FROM 299% TO 150%

Over 3000 FROM 299% TO 190%

Diesel

Engine Capacity/CC

Bellow 1000 FROM 412% TO 179%

1000 to 1600 FROM 510% TO 185%

1600 to 2000 FROM 524% TO 271%

2000 to 3000 FROM 524% TO 271%

Over 3000 FROM 524% TO 290%

This is the best news I heard after the death of Brabha

Finally we will have prices that we had back in 1999-2001 era. Finally

[L board]

http://www.autolanka.com/ad.asp?ID=27346

Rs 1,890,000.00

Again Beetles singing dream dream dream dream dream dream....

Hellooooo. This vehicle is now worth only Rs 1,000,000.00

[SeanD]

  L board said:

Finally we will have prices that we had back in 1999-2001 era. Finally

Huh?

[Nitro]

does anyone know the excise duty % from the total value of the vehicle..??

Edited June 2, 2010 by Nitro