GST Changes May Impact Festive Car Sales
As the Indian government considers changes to the GST structure, automobile sales, particularly for small cars and entry-level bikes, may dip during the upcoming festive season. Current GST rates for internal combustion vehicles are at 28%, while electric vehicles enjoy lower rates. Experts predict that potential tax cuts could lead consumers to delay purchases in anticipation of lower prices, impacting sales temporarily. However, if implemented, these changes could enhance affordability in the long run, making vehicles more accessible to price-sensitive buyers during festivals like Onam and Ganesh Chaturthi.
