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Increased Cess On Luxury Cars Did Not Deter Growth In Sales Volume
The sales volume for luxury cars has been in top gear even when cess has been increased heavily.
Earlier last month cess on all cars which were not classified as small cars was increased to a huge 7% but this did not deterred the buying spirit of consumers in the segment. In fact, Mercedes Benz which is the largest manufacturer of luxury cars in India ended the month of September with a whopping increase in sales volume of 41% in the Q2 quarter. This has been the best ever sales growth recorded by the auto manufacturer.
In the nine months to September this year, the company has recorded nearly 90% sales of what it sold last year. BMW also registered 90% of the total sales in 2016 in just nine months this year. The number of units sold by Mercedes Benz in nine months touched 11, 869 units which is a growth of 20% while BMW recorded sales of 7, 138 units which is a jump of 17% in sales volume.
The roll out of GST has been a triggering factor for the growth in the luxury car segment.
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