New Delhi,Mar,13:Car sales in India has once again seen growth of 13.11% in February 2012 with total unit sales of 2,11,402 as customers preferred to take their deal amid fear a hike in car prices post Union Budget 2012-13 that is scheduled on March 16.
"People are expecting increase in car prices after the Budget as the government may roll back two per cent excise concession given as stimulus during the 2008-09 slowdown." SIAM Director General Vishnu Mathur said in a statement.
Mr Mathur further said that there is also the speculation in the media that diesel cars may cost more after the Union Budget as additional taxes may be levied on them. "So, the growth witnessed in February was primarily driven by customer's advancing their purchase ahead of the Budget."
Upcoming Union Budget apprehension coupled with factors such as heavy discounts that carmakers had come up with on their petrol engine cars and the absence of any anticipation of a increase in interest rates has been attributed to the increase in car sales for the month of February 2012.
New Delhi,Mar,13:Car sales in India has once again seen growth of 13.11% in February 2012 with total unit sales of 2,11,402 as customers preferred to take their deal amid fear a hike in car prices post Union Budget 2012-13 that is scheduled on March 16.
"People are expecting increase in car prices after the Budget as the government may roll back two per cent excise concession given as stimulus during the 2008-09 slowdown." SIAM Director General Vishnu Mathur said in a statement.
Mr Mathur further said that there is also the speculation in the media that diesel cars may cost more after the Union Budget as additional taxes may be levied on them.
"So, the growth witnessed in February was primarily driven by customer's advancing their purchase ahead of the Budget."
Upcoming Union Budget apprehension coupled with factors such as heavy discounts that carmakers had come up with on their petrol engine cars and the absence of any anticipation of a increase in interest rates has been attributed to the increase in car sales for the month of February 2012.
