The top automotive news of the day - The central government has decided to increase the GIST cess on SUVs from 15 per cent to 25 per cent. This is over and above the 28 per cent GST rate which is already applicable on cars which are more than 4 metres in length. Porsche India has started taking bookings for the Panamera Sport Turismo for Rs. 10 lakh. The Panamera Sport Turismo is the estate of the 'Shooting Brake' variant of the Panamera. The Central Government is committed to electrifying public transport in India with the phase II of the FAME scheme for electric and hybrid vehicles.
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The increase in production is to cater to the increased demand because of the festive season and revised GST rates.
The development coincides with the surge in sales fuelled by revised GST rates and festive demands.
India's consumer economy has achieved its highest Navratri sales in over a decade, a surge attributed to the Modi government's NextGen GST reforms, which reduced tax rates and increased product accessibility.
The Yamaha R3 and the MT-03 have received a price cut of Rs 20,000 following the revision in GST rates.
The sales of Suzuki Motorcycle India were supplemented by reduced GST rates and increased demand because of the festive season.
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