WHEN THE SECONDS STOPPED TICKING
Article Abstract:
The domestic used car market is facing a lack of buyer interest though the prices of second-hand cars have declined. The number of used cars brought in for evaluation has come come down by 50 percent. This situation has been attributed by the dealers to the new law which requires the furnishing of the Permanent Assessee Number (PAN) for car sales or purchases. The law became effective January 1, 1999. Mumbai's second hand dealers have cut prices on various models of Maruti cars by Rs10,000 to Rs15,000. The possibility of excise duty reduction on passenger cars from 40 percent to 30 percent in the budget for 1999-2000 and the the release of Tata's Indica car have put pressure on the prices of used cars. (vsm)
Comment:
The domestic used car market is facing a lack of buyer interest though the prices of second-hand cars have declined.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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AUDI HALTS `MADE IN INDIA' PLANS, CITES GOVT REFUSING TO RELAX NORMS
Article Abstract:
Audi AG of Germany has put on hold its plan to set up a manufacturing unit in India. The government of India has not relaxed the indigenisation levels for the car maker. The memorandum of understanding policy of the government is also attributed to Audi's decision against setting up a facility in India. Audi is interested in franchise agreements, which will be through direct imports. Audi models are imported in completely built up condition and marketed through dealers. (rk)
Comment:
Puts on hold its plan to set up manufacturing unit in India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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