Search Result for : Luxury Car

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

Aamir H Kaki  Under the new goods and services tax (GST) regime, the luxury cars will become cheaper and for buying small cars the buyers have to shell out a little more.  Luxury cars, sports utility vehicles (SUVs) and larger sedans would be benefitted from some rationalisation in tax structure as even after a 15% cess on the total levy, it will be lesser than the tax currently being levied on such models.   Under the new tax regime, there will be a uniform rate of 28% on cars, unlike the multiple rates of tax levied presently. An additional cess of 1% and 3% is being discussed to be imposed on small cars of petrol and diesel, respectively.   Larger cars and SUVs are ...

The Dollar Business Bureau BMW Motorrad, the motorcycle subsidiary of luxury German auto major BMW, has officially begun its operations in India. Earlier, the firm was operating in the country with importers who had retail outlets in New Delhi and Mumbai. “We see a tremendous potential in this country and we are pleased to introduce BMW Motorrad as a part of the Indian subsidiary of BMW Group,” said Dimitris Raptis, Head of Region - Asia, China, Pacific, South Africa, BMW Motorrad said in a release. Presently, the two-wheeler arm of BMW is in the process of establishing a network of dealers and a team in India with Shivapada Ray already being appointed as the Head of the company. Initially, the company will set up dealerships ...

The Dollar Business Bureau  After the Lok Sabha approved the four supplementary GST legislations - Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Compensation law, the Centre and the State governments will on Friday come up with the final rules and regulations of the new tax framework. The GST Council has already cleared five sets of norms pertaining to registration, payments, refund, invoice and returns. However, these sets of rules will need some minor tweaking by the council. The GST Council will discuss four more rules related to composition, valuation, input tax credit and transitions. The similar rules for registration, payment, returns, invoice and refund will be made as one and presented before the Council. The GST will subsume excise ...

By Ranjeet Mahtani and Sweta Rajan The 12th GST Council meeting on March 16, 2017, proved to be monumental with the Council approving the State GST and Union Territory GST laws. With this, all GST legislations viz. the Central GST, Integrated GST, State GST, Union Territory GST and the GST Compensation laws have been approved by the GST Council. After the Cabinet takes up these laws (except the State GST draft), the next step is the passage of the laws by the Parliament (Central GST law, Integrated GST law, Union Territory GST law and the GST Compensation law) and the respective States (State GST law) and Union Territories (viz. Delhi and Pondicherry).  Prior to transition to GST – a game changer of a reform - the GST Council has two more crucial responsibilities, viz. approval of rules and regulations regarding: a) composition scheme, transition, input tax credit and valuation, ...

The Dollar Business Bureau Luxury car maker Lamborghini expects a double digit growth this year in the sales of its exclusive super sports cars in India, citing stable import policy has supported in its sales growth. The Italian brand has two product launches lined up in India in 2017, including the new Avendator. Earlier this month, the company has launched the convertible Huracan Spyder with rear-wheel drive, which is priced at Rs.3.45 crore. The Italian sports car manufacturer is preparing to cash in on the rise of a new breed of consumers in India - the first generation entrepreneurs, specifically from tier II and III cities and also the women buyers. “In 2017, I expect that the segment should carry on with its double ...

The Dollar Business Bureau  The British engine maker Rolls-Royce has secured a Deferred Prosecution Agreement (DPA) with the authorities in Britain, US and Brazil. To avoid further criminal prosecution and settle the enormous corruption scandal, investigation into which has been on for five years now, Rolls-Royce has agreed to pay a penalty of a little over $800 million.  Seven countries; a Serious Fraud Office (SFO) investigation costing $16 million; charges of corruption and bribery spanning three decades; disciplinary proceedings against 38 employees and 30 million documents scanned! The Rolls-Royce scandal sure has all the markings of a truly international headline grabbing mega event.  The niche-serving luxury brand was charged with corruption, bribery and false accounting practices with regard to its dealings in as many as seven countries, namely, Thailand, Indonesia, Malaysia, China, Russia, Nigeria and ...

The Dollar Business Bureau   Germany’s luxury car manufacturer BMW has rolled out its 50,000th car made in its Chennai plant, the company said in a statement on Thursday. The rolled out car was an all-new BMW 7 Series that was launched at the Auto Expo 2016. The model has received huge response from the luxury car enthusiasts. It boasts of futuristic technologies that include Touch Command System, Wireless Charging, Sky Lounge and Remote Control Parking. Jochen Stallkamp, Managing Director of the BMW Plant Chennai, announced the roll-out of the 50,000th car locally manufactured at BMW Plant Chennai. Each BMW that is locally made is of the same international standard followed anywhere else in the world. In order to boost the ‘Make in ...