Team-BHP > The Indian Car Scene

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Old 5th January 2017, 09:24   #226
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Re: Effect of Rs. 500 / 1000 note ban on the Indian car industry

Only a fortune-teller or an astrologer can predict, which way the demand will be headed - says Hyundai india - SVP (S&M).

A number of decisions—demonetisation of high value currency notes and the ban on diesel engines earlier last year—have made the situation highly uncertain for carmakers.
The sudden changes in policy are affecting the capacity of companies to plan product launches, technologies and even fresh investments
the uncertainties facing the industry include the fate of the proposed GST legislation that the government plans to introduce as a major tax reform

For 2017
- growth may be just around 4%!
For a market like India, this kind of performance will be surely below expectations. The Indian market provides an opportunity to grow between 8% and 12%.
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Old 5th January 2017, 10:42   #227
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Re: Effect of Rs. 500 / 1000 note ban on the Indian car industry

The 10 lakh income level in the assessment year in question is 3 years old, the current law has tax on dividends exceeding 10 lakhs a year. Income refers to salary and excludes a lot of other sources, especially dividend income.

This is a click bait headline and people have fallen for it. The 35k luxury cars bought by directors/management of small companies in the name of the company are the majority of the sales, most of them have no salaries but charge expenses on the company account and pay themselves a dividend, nothing illegal. It's not that difficult to track 35k purchases with the information available with the authorities.
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