Diwali bonanza for auto sector: Vehicle prices set to drop as GST rates to be rationalised
The Indian automotive industry is ready to promote a celebration as the government plans to rationalize goods and service fees (GST) on vehicles. The move is expected to significantly reduce the prices of cars and two -wheelers, which causes consumers to get attractive deals before Diwali. See it as a very important relief to accelerate sales due to high ownership costs, which are facing dull demand for vehicle manufacturers. Industry experts believe that lower GST will not only encourage middle -class buyers, but will also revive demand in entry -level segments, where sales have diminished in recent years. Time is in line with festive weather, traditionally extreme period for car sales in India. Overall, GST rationalization is expected to give strength, improve emotions and give great pressure to the car market.
The Key points
- GST prices for vehicles will soon be rationalized.
- Car and bicycle prices will fall before Diwali.
- The aim of the policy is to make the ownership of the vehicle more cheap.
- The festive season's timing is expected to promote car sales.
- Authers estimates strong recovery in demand.
- Middle -class buyers to take advantage of low costs.
- Entrance level and two -wheeler sales can be revived.
- Lower GST will stimulate the market for autocomponents.
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