Any changes to GST on EVs will slow down adoption of green cars: Mercedes MD Santosh Iyer

Quick Summary:

Mercedes-Benz India warns that potential GST rate hikes on EVs above Rs 40 lakh could deter investment and employment, slow EV adoption, and negatively impact sales.

Increased GST on fully-built imports, already heavily taxed, may reduce demand and be revenue-neutral or negative for the government.

The company also said its car sales in India grew over 13% year-on-year to 14,379 units in the first nine months of 2024, registering its best-ever performance in the period.

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Article Details

Author / Journalist: Pankaj Doval

Category: EconomyBusiness

Markets: IndiaChinaJapan

Topics: Business news Santosh Iyer Electric vehicles Luxury cars GST EVs Mercedes-Benz

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-10 @ 00:21:41 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 846 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22970365

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