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Updated On: 26 February, 2010 10:21 AM IST | | B V Shiva Shankar
City witnessed mad rush to buy cars before they become costlier due to increased levies expected in the Union Budget
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Bangaloreu00a0witnessed mad rush to buy cars before they become costlier due to increased levies expected in the Union Budget
Finance Minister Pranab Mukherjee's budget brought smiles to car dealers' lips yesterday. A day before the budget was to be presented, Bangaloreans rushed in numbers to buy cars before expected increased levies make them dearer.
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Car crazy: A family test drives a car at a city showroom yesterday. Pic/Vinod Kumar T |
A new high
"The dealers are riding high on the surging sales," said N Nityanand, a chartered accountant and expert in indirect taxes.
"Now the consumers want to buy before the cars becoming dearer and this has pushed the sales upwards.
Naturally, the dealers are happy," Nityanand added. In a bid to bridge the widening fiscal deficit, Mukherjee is expected to announce an increase in excise duty, which stands atu00a0 eight per cent now, of two to four per cent.
| Lucky January | |
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While 59, 060 Maruti cars were sold in January last year, across the country, 70,029 were sold in the same month this year. Read Next Story Trending StoriesLatest Photos |
