NEW DELHI(PTI): Indian car and truck makers plan a price hike of various models even as government has issued stern warming it will withdraw excise reliefs if they are not passed on to consumers.
Automobile industry sources said here the hike was contemplated to meet the increase in costs and it had nothing to do with excise reliefs.
However, the price increase contemplated would be less than the excise relief which was passed on to consumers, they said, The sources said just because the government gave some concessions to the recession hit industry, it did not mean they could not raise prices for all time to ‘come. They said excise relief had already been passed on to the consumers by the automobile industry. The proposed hike was to meet the costs which had gone up since the industry passed on excise relief immediately after the budget, the sources said.
Article extracted from this publication >> June 18, 1993
