Mumbai: Car market leader, Maruti Suzuki India Ltd on Saturday said it’s passenger vehicles sales in June in the domestic market rose marginally 1% to 93,057 units over a year ago period. Even as the Utility vehicles sales kept up the sales momentum advancing 43%, entry level models such as Alto and Wagon R dropped 8%. The rate of reduction varies across locations depending on the VAT rates applicable prior to GST, it said. Owing to withdrawal of tax concessions on mild hybrid vehicles, the price of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased, it added. Broadly, effective GST rates indicate the highest tax savings for sport utility vehicles (SUVs) for which the rate is down to 43% from the earlier 55.3%.

Source: Mint July 01, 2017 06:56 UTC