[GTO]

It's time for vintage & classic car fans to rejoice. In what can be seen as a step in the right direction, the Director General of Foreign Trade has stated "Import policy of cars manufactured prior to 1st January, 1950 is being revised from ‘restricted’ to ‘free’ for Actual Users with immediate effect".

The notice is attached as the second picture of this news article. The term "Actual Users" means actual owners of the (foreign) car. While the notice doesn't give much detail, we can safely assume that import of only right-hand-drive cars will be permitted, and that import duties are fully applicable. More information on the exact rate of duties is awaited.

The move might lead to heritage cars coming back to India. If the number of classic car imports shoots up, an overall price correction can be expected in the market. On a related note, it will be interesting to see if the "actual user" is permitted to import a car, only to sell it off immediately.

The local vintage car market is skewed because of demand and supply imbalance; so few cars are available that prices skyrocket even for common models like Beetles, Minis and Mustangs.

At the end of the day, Indian enthusiasts are guaranteed better prices and a wider range of classic cars to choose from. That can only be a good thing.

Do note that the Government doesn't permit the export of old cars and bikes, because they are classified as "national heritage". This legislation was initiated by vintage car enthusiasts and collectors to ban exports in the 1970s.

Thanks to Karlosdeville & other BHPians for their inputs!

[DRIVE_ADDICT]

A very good news indeed, lets see lotsa a classics on our roads. Blinking Buick and Plymouth.. will be feast for eyes

[ajay99]

http://164.100.9.245/Exim/2000/NOT/NOT13/not0513.htm
You can read the actual notification here.
By the way most collectible IMPALAS are post50 and not pre50!!

[kasli]

Heavenly and hope this is not a delayed prank. Really great news ! And lots will suddenly be on the block here also. as prices will crash

Cheers

[musclecar]

Sorry for my ignorance but what does Actual user mean in this context? Does it imply that the people who are shifting bases to India can bring along their vintage vehicle? Or can anyone opt for importing these vehicles?

[KPS]

Guess it will have to be RHD and emission norms would be a questionable.

Overall a very good news. Heritage cars can come back easily.

Cheers

KPS

[Stanher]

No doubt good news, but even better (IMHO) had it been extended to pre-1960, as most of the 'trendsetting' cars especially in the US were made in between 1950-60.

[mayankk]

Can someone put some numbers as to for how much one will figuratively buy a pre-1950's and how much it would end up for in one's driveway?

[mbz180]

When the directive says 'free' what does it mean? Is it that such cars will be exempt from current import duties or duties stand as they are? Is there any clarity on this matter?

[parsh]

“(III) Cars manufactured prior to 1st January, 1950 are free for import by Actual Users. Policy Condition (I) and (II) above shall not be applicable for these cars. However, such of the cars that would be plying on public roads will continue to be subject to Central Motor Vehicles Act, 1988 and Rules, 1989.”

Need to get what those (i) and (II) are in precise words.

Import policy of cars manufactured prior to 1st January, 1950 is being revised from ‘restricted’ to ‘free’ for Actual Users with immediate effect.

Both the above do imply something though.

What this seems to mean is "Actual Users" who MUST be the owners of the said overseas cars manufactured prior to 1st January, 1950, (they - the Actual Users/Owners) are "Free" to import them instead of levying any "Restriction" of particular car import of any make, year as per import policy that may be earlier.

However, they must be liable for some import duty as per the value of the car and import policy guidelines in finer details though the process must be eased due to this.

Also, they do seem to be subject to CMVA as well to be able to run on Indian roads. So there are quite a few ifs and buts.

Why can't they declare things extremely clearly instead of landing people into such doldrums?

[moralfibre]

Originally Posted by kasli

Heavenly and hope this is not a delayed prank. Really great news ! And lots will suddenly be on the block here also. as prices will crash

Cheers

That is exactly what came into my mind the moment I read this news. However, just like all government orders this doesn't address many concerns like the ones that mbz180 and parsh have. I hope it becomes a smooth process to import. Like you said, the moment supply goes up, demand and prices will come down to affordable levels.

[harit]

Good news, great news, and?
Well, be patient, the change in policy has been announced. One has to wait for the operating part. The rate of duty has to be announced, then the RHD and LHD rules, emmission standards, so much. And who is an actual user, can he register freely, can one resell?
Actual user will import a car and register in his name.
I would not yet fret about not being able to get an Impala, it will do if I could get an MG.
Free means import is freely allowed, not restricted, and definitely not free of duty. Come on!!
I suggest that one consider this as a positive step in the right direction, now let the first cars come in. I do not see a flood of cars coming in by shiploads. Import of exotics is freely allowed, how many such cars are coming in today, where the manufacturing company is not present in India? Here also import is allowed, how many Lexus coming in are seen, for example.
I am sure that there will be clarifications to follow.

Cheers

[Bulldogji]

Clarity is awaited, for those who have been buying cars abroad for years in the hope that imports will open up someday, finally their cars may set sail for Indian shores.

Local sales will see a much needed correction and the genuine enthusiast will perhaps find his desired car at a sensible price.

How many cars will actually come is debatable, Tweety bird feels that this is a window, opened for a few cars already bought by persons of influence to bring their cars in after which the window may be closed.

SO, those who wish to avail of this facility, be advised, move fast.

[harit]

Originally Posted by harit

Good news, great news, and?
Well, be patient, the change in policy has been announced. ...Cheers

I feel like a moron (a stupid person).
The most important aspect is clarity on whether unrestored cars will be allowed, earlier there was talks that only restored cars could be allowed. I hope that they will allow junks, maybe with a few parts thrown in, or projects with some work like chrome already being done. And what about an "original" American Hot Rod pre 1950?
Just thinking aloud..........

Cheers harit

[ajay99]

Originally Posted by parsh

Need to get what those (i) and (II) are in precise words.

Both the above do imply something though.
Also, they do seem to be subject to CMVA as well to be able to run on Indian roads. So there are quite a few ifs and buts.

Why can't they declare things extremely clearly instead of landing people into such doldrums?

You can see what (II) means precisely here.
http://allindiantaxes.com/dgft12-13-noti-13.php

You can read the full text here
http://dgftcom.nic.in/licasp/itchs2012/87foot.pdf