Why are India's Car Sales Dropping? | Vantage with Palki Sharma

Why are India's Car Sales Dropping? | Vantage with Palki Sharma

India's car sales dropped for the first time in more than two years in the month of July. Car dealers have complained that manufacturers are flooding them with excess stock in a bid to capture a larger market share. What explains the loss of momentum in car sales? Palki Sharma tells you.

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Automobile | Car | Market | Sales | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#automobile #cars #sales #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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[subaganesh]

Govt has destroyed the car market with its taxation. Govt is earning more than the car maker

[NikZeDawn]

People are probably on saving mode due to high taxes, no job security and high cost of living.

[motocam]

Main reason is rapid increasing of vehicle prices every year

[nippu]

Brilliant India consumers finally realised the definition of Liability and asset.

[nickelvikky]

Taxation in India kills Automobile industry.. 48% tax is a killer .. Secondly no space on roads to drive

[afsallais]

Compound tax. Road tax, central tax, state tax, fuel tax, service tax, income tax. Better go by uber or metro. Only govt benefit from petrol diesel vehicles.

[Bhairavvvv]

In india the government is rich not the people 😅

[naveenv]

I just got a quote for XUV700. The ex showroom price of 19, 99, 900/- includes 1, 89, 000/- CGST + 1, 89, 000/- SGST + 2, 70, 000/- CESS at 20%. Road tax is a different story all together

[vinaychabria]

The government is killing the common man in the name of Tax. Not only cars but everything has become costly now. The cost of living has gone up like hell. People say india is growing fast, but as a common man i dont see anything growing..we still get those bad roads, indisciplined traffic, same old chaos on the roads, same old overcrowded buses and trains where we cant even stand properly, the list goes on and on...the only thing i see growing is the population and nothing else. Im not an ecomics expert or so im just talking as a common middle class person, we have to pay more for each and evrything from medicines to groceries the prices are doubled but the quantity we get are half year on year.

[Rav]

2 Samosa, 1 Tea and a Water Bottle costed me 490 Rs at Mumbai Airport.

Flight Ticket From Mumbai to Kolkata- 9230 Rs.

Cab drivers Took 1500 Rs.

Total 11220 Rs For Reaching Home (One time).

Avg. Person Earns Salary Per month in Kolkata is 17000.

And many of those People Among 100 Crore population whose Family depends on their Earnings !!

Seriously Janata Khatre mai hai !!

[silentstormstudio]

The people who bought conventional cars a fews years ago won't be shifting to EVs till atleast next half century.😅

[killingking]

10 year and 15 year car rule is also hurting people

[pavankanuri]

The main reason is confusion created by Govt: At one moment, he mentions 100% ethanol, then shifts to EVs, and at another point, discusses hydrogen cars. For a middle-class Indian family, purchasing a car is a significant long-term commitment—one that shouldn’t be jeopardized by such unpredictable policies.

[MunendraPandey]

The only reason is Govt's Greed.
1- Tax on income, most people who buy cars comes in 20-30% tax slab.
2- Again tax on car upto 48%
3- Very high RTO Charges.
4- Again nearly 100% tax on petrol and diesel.
5- Toll Taxes
and cherry on top is pathetic infrastructure.

[swetaschabanayak]

Govt Killing Auto industry, Gst 28% cess 15-22%. Hybrid No Tax Relief, I want to buy Hybrid Honda City & wait till Tax benefit. Tax like UK Road like Pakistan. 7.5 lac inventory, Rs 80k cr unsold car. Govt Earn more Than manufacturers👍

[unmeshsathe]

Government has hand in glove with car manufacturers.
Car manufacturers have increased the prices by minimum 30% to 35% after COVID without any valid reason.
Please see the profits recorded by Maruti Suzuki and other manufacturers in last quarter.
You will see phenomenal rise in the profits.

[hitexhrh]

I showed the dealer this report, they said the car price increased because cost of getting it here higher. Inventory may be piled up, but no one want to deliver it here.😅

[Ojasp]

Reason 1 : Govt's super high taxes
Reason 2 : Govt's excessive emission control without subsidy
Reason 3 : Low disposable income due to higher taxes
Reason 4 : Overestimation of sales by car manufacturers

[Raja-ctxq]

Pathetic Roads, High Fuel tax, High tax on vehicle purchase - Worst traffic : Sufficient reason for not to buy a car.

[eskutts]

Increasing layoffs, high cost of living is prompting many people to cut down on unnecessary expenses and trying to save as much as possible for the future and hence the decreasing demand for cars. Also cars are not necessary item as many families can survive with two wheelers itself and with increasing number of online cab aps, it's not that compulsory to buy a car right now especially in today's economic crisis as private sector jobs are very vulnerable to layoffs.