Automobile Sector expectations from Union Budget 2019

SIAM (Society of Indian Automobile Manufacturers) has made following recommendation: - Rationalization of GST and bring the base rate to 18% for all types of vehicles - GST cess only for luxury vehicles and 5% GST for electric and fuel cell vehicles. -Status quo for CBUs of passenger vehicles and two-wheelers. -Customs duty for CBUs of commercial vehicles to be increased from 25% to 40% (excluding CKD/SKD of CV. -It is suggested that year wise plan for reduction of Income-tax rate for Corporates (without any linkage to turnover) should be notified and 200% weighted deduction on R&D expenditure should be restored. -The Government should one time incentivise replacement of vehicles, which were registered before the year 2000 when the first emission norms were introduced and put in place a robust Inspection & Certification regime to control such vehicles of later vintage. The incentives could be in the form of rebate in GST, No road tax, subsidized finance like what happened in Delhi for Public Transport Vehicles.

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Microdots technology to make car almost theft proof

To counter car thefts, Indian govt has decided to adopt microdots technology which is widely used in several counties including South Africa and the US. The vehicles stolen go untraced since auto-lifters take out the engines & other valuable parts before destroying the vehicles. Microdots is a technology in which thousands of micro dots are sprayed over the body of vehicle. These small laser-etched dots contain nano-size (0.5 mm) particles that carry information like unique number and vehicle identification number. These dots can be seen by using UV light and since the dots are sprayed throughout the vehicle body, it becomes easy to trace the vehicle as even a small part of the dismantled car can be used to trace the stolen vehicle. The government plans to roll out the technology as an optional system initially and the price of this feature is likely to be around Rs 1,000. The car, truck or bus would require at least 10,000 microdots, while at least 5,000 such dots would be neede

Honda Civic makes a come-back in Indian Market

One of best product from stable of Honda which was discontinued years back is all set to make its comeback in India with new looks, style and performance. Honda has recently announced to close it plant in Swindon (its only car factory in European Union) by 2021 where it builds 1,60,000 Honda Civic a year. At its Greater Noida plant in India, the company has commenced the production of the 10th generation of the Civic and is all set to launch it on Mar 7, 2019. The big addition is that the new Civic comes with a diesel heart and is far more superior over its predecessors on performance and tech wizardry. The pre-launch bookings in 3 weeks has already exceeded company’s expectations and Honda expects to capitalise on the outstanding pre-launch response. #autojobs4u #Honda #IndianMarket #automobileindustry #Automotiveupdates

90% of car purchases in India are digitally driven

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