Union Budget 2013: Import duty on premium cars hiked from 75 per cent to 100 per cent

The import duty on all premium cars has been hiked to 100 per cent from the current 75 per cent. It is likely that sales of premium cars in India might take a bit of a hit given that carmakers are forced to forge ahead with the hike, thereby raising the prices of their existing models.

In a blow to the leading premium carmakers like Audi, BMW and Mercedes-Benz, the hike in import duty from 75 per cent to 100 per cent means the prices of completely imported vehicles will go up as carmakers, inevitably, will pass on the increased duty to the customers.