India Automaker Group Cuts Sales Forecast on Levies, Diesel Ban
- Government levies include luxury and infrastructure taxes
- Passenger vehicles sales expanded at fastest pace in 5 years
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India’s automaker association cut its annual sales forecast for a second time in as many months, after the government imposed levies on passenger vehicles and the nation’s highest court extended a ban on registrations of large diesel vehicles in New Delhi.
Deliveries of cars, sport utility vehicles and vans may gain as much as 8 percent for the year started in April, Sugato Sen, deputy director general of the Society of Indian Automobile Manufacturers, said Friday in New Delhi. The group, which counts Maruti Suzuki India Ltd. and Hyundai Motor Co. among its members, last month cut its sales growth forecast by 1 percentage point to 11 percent.