Photo Credit -  The Economic Times    

India's Automotive Industry Hit by Regulatory Burden and High Taxes, Hindering Car Affordability

Photo Credit -  Business Today                                              

Regulatory burden and high taxes restrict car affordability in India Maruti Suzuki's chairman, RC Bhargava, highlights the impact of government policies.

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Car-industry growth has slowed to 3% due to poor government policies and High taxes on cars in India.

Photo Credit -  The Print            

Income disparity and low car ownership in India India's per capita income is significantly lower than China and the US,

Photo Credit - The Times of India          

GST of 28% applies to most new cars, with additional cess ranging from 1-22% and Customs duty of 60-100% on imported cars.

Photo Credit - ET Auto 

Regulatory burden affecting small cars the most Changing market behavior due to the higher burden on small cars.

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Elon Musk and Toyota have previously criticized Indian duties due Higher taxes on cars hinder growth and import opportunities.

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Photo Credit - Indian Retailer                         

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