Gov't relaxes import norms on cars above US$ 40k

[canonball]

CNBC yesterday had a continuous ticker stating Gov't relaxes import norms on cars costing US$ 40k and above but no details just the ticker on CNBC & NDTC Profit. Any ideas what the fine print on this is? Seems they are yeilding to WTO pressure of Jun 08, may the good times for car lovers begin

[no1lives4ever]

Got this link via google news: The Statesman

IMO not much of a change in policy.

-- no1lives4ever

[canonball]

I beleive there is a whole universe of wholesalers sitting in Netherlands/Dubai/Japan...etc who are able to source cars direct from manufacturers at heavy discounts so you could get better rates by buying through these sources, folks in the UK did the same through the 80's to 2000 and got cars form netherlands at discounts as high as 10% plus from these guys. There are also car wholsalers who carry 1 to 3 year old manufactured new cars which never got sold these again are sold at heavy distcounts so you could potentially get a very expensive car at much cheaper rates say a Range Rover or Q7 for say 40 lacs on road which the manufacturer woudl never carry as inventory !! how does that sound

[GTO - Touring]

Not very clear. How exactly have they made it easier? If we go by the link that no1lives4ever has provided:

Cars with engine capacity of more than 3,000 cc for petrol version (and 2,500 cc for diesel models) costing $40,000 or above have been exempted from the requirement of importing from the country of manufacture,

I didn't even know this was a requirement previously! I was hoping that the duty rates have been slashed down.

Until further updates.........

[Sahil]

I don't see how consumers would benifit from this as there has been no cut in duties etc

[canonball]

GTO - Touring i thought posting rules did not allow for how you have concluded your last line!

Anyway I suppose one can save as sourcing points are now more competitive. For example I put a direct enquiry to Land Rover they quoted me a ridiculous price for a Disco 3 and were forcing down stupid options for India although their export vehicles can be speced any which way and were cheaper in general. Now I can go and pic up a Disco 3 form Netherlands any trim I want and be able to save. Once you have multiple sourcing points prices become keener due to compition I saw this happen in Hong Kong, Indonesia in the past etc.

Duties will come down and so will one be able to import a remanufactured car as well but this is India so another 3 to 5 years I recon.

[canonball]

Go to the import norm section in Indian customs site you will understand what I am getting at.

[14000rpm]

Originally Posted by canonball

Go to the import norm section in Indian customs site you will understand what I am getting at.

need info.I'm sure about the fact that import of LHD cars is impossible.What're the rules if I only need to ship down a car from US (LHD) customize it here and ship it back to US within 45 days. No intentions of driving it here.I have no idea where to get this information. Also, what're the applicable taxes for that ?

[Yeldo]

Originally Posted by canonball

I beleive there is a whole universe of wholesalers sitting in Netherlands/Dubai/Japan

@cannonball, would you please be so kind and give websites of such dealers? Thanks.

[ajmat]

Originally Posted by 14000rpm

need info.I'm sure about the fact that import of LHD cars is impossible.What're the rules if I only need to ship down a car from US (LHD) customize it here and ship it back to US within 45 days. No intentions of driving it here.I have no idea where to get this information. Also, what're the applicable taxes for that ?

There is the carnet system

Originally Posted by GTO - Touring

I didn't even know this was a requirement previously! I was hoping that the duty rates have been slashed down.
.....

The rule was the car had to be "factory fresh". This meant that manufacturers had the monopoly. With the new rule, as long as the car is brand new, it can be sourced from anywhere. Expect a lot of stockpiling in Dubai or Singapore. With tough times, middlemen can buy a lot more cars in bulk at killer prices and stock them

Only issue is that you cannot get something specifically tailored for you

[canonball]

Ajamat I think u have underdstood my take it will rain discounts. Let me give an example. An expat friend in Tanzania bought a 1998 brand new landcruiser (the new face just dicontinued last year)in 2001 at half the price! I visited him and drove the car in 2003 and boy it still looked brand new no signs that it was not sold for almost 3 years after DOF!

Yeldo just google sites in netherlands and dubai you will find banners shouting of the top of the roof saying we are wholesalers I am out of date on the latest guys your best bet it google

[14000rpm]

Originally Posted by ajmat

There is the carnet system



The rule was the car had to be "factory fresh". This meant that manufacturers had the monopoly. With the new rule, as long as the car is brand new, it can be sourced from anywhere. Expect a lot of stockpiling in Dubai or Singapore. With tough times, middlemen can buy a lot more cars in bulk at killer prices and stock them

Only issue is that you cannot get something specifically tailored for you

The carnet?.hmm.then which is the best site for info on carnet?

[ImmortalZ]

May I let you know about this brilliant concept called search engines? They are a recent invention that makes finding information on the web very easy.

Searching simply carnet in Google and the first hit is: ATA-Carnet - FICCI is the only National Guarantor in India : FICCI

[14000rpm]

Originally Posted by ImmortalZ

May I let you know about this brilliant concept called search engines? They are a recent invention that makes finding information on the web very easy.

Searching simply carnet in Google and the first hit is: ATA-Carnet - FICCI is the only National Guarantor in India : FICCI

thanks for the sarcastically witty response.

[m4w]

Some respite for us automotively challenged Indians. Looks like some import norms are being "relaxed".

[FONT=Verdana][SIZE=2]... The current notification allows cars of above $40,000, with an engine capacity of more than 3000 cc for petrol run vehicle and 2500 cc in case of diesel, to be imported from any country, even where it may not be produced. Earlier a car made at BMW’s or Audi’s plant in Germany could be imported, but not from a country where it does not make or assemble the car. [/SIZE][/FONT]

Found it here Indiacar News-Industry fears unrestricted imports of luxury cars

Oh and if you listen, you can hear the whining of the Indian manufacturers.