Excise hike to impact auto industry by Rs 1,000 crores

NEW DELHI: Seeing no rationale behind the government's move to hike excise duty on Sports Utility Vehicles (SUVs) to 30%, Pawan Goenka, President Automotive Sector, M&M told ET Now that the decision will distort the playing field in auto industry.

Days before the budget session of parliament resumes, Anand Mahindra And Pawan Goenka today met the revenue secretary to express their concerns on definition of sports utility vehicle for the purpose of excise duty.

Also read: Mahindra to launch electric Verito within one year Sharing the company's plans on this with CNBC-TV18, Pawan Goenka of M&M said that the work for such a power train was already underway. The development comes about two weeks after the ...

Category: Announcements Description: Anand Mahindra, Dr. Pawan Goenka, Chetan Maini at the launch of the newly formed Mahindra REVA Company: Mahindra City: Delhi

Local business guilds often lament that Vidarbha does not attract big ticket investment, but for auto giant Mahindra and Mahindra (M&M), Nagpur was the natural choice over three decades ago.

Tags: Mahindra And Mahindra | SUV Models | Pawan Goenka | Auto News Faced with higher excise duty on its SUV models, homegrown auto major Mahindra & Mahindra today said it will be compelled to consider modifying its products to align with the new ...

After Vijay Singla, his father and brother-in-law of Railways Minister Pawan Kumar Bansal, Mithan Lal Singla, is under the scanner for allegedly striking a "deal" with the Punjab government to get over 21 acres of common panchayat land at a ...

The 3 percent hike in excise duty hike on sports utility vehicles proposed in the Union Budget could hurt UV sales and lead to a possible shift in demand to other passenger vehicle segments, Pawan Goenka, president, automotive and farm equipment sector, ...

With the subsidy on diesel being cut, the oil marketing companies are losing Rs 3.73 per litre currently, down from Rs 10 per litre last fiscal. |PTI Hindustan Motors rolled out the Mark 4, the first diesel car in India, in 1979. It was powered by a ...