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Budget 2023: Imported cars, including Electric Vehicles to become pricier due to custom duty hike

Imported cars, including electric vehicles will cost more as the government has hiked the custom duty in the Union Budget presented in the Parliament today by Finance Minister Nirmala Sitharaman.

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Budget 2023

Imported cars, including electric vehicles will cost more as the government has hiked the custom duty in the Union Budget presented in the Parliament today by Finance Minister Nirmala Sitharaman.

According to the budget document, custom duty on vehicles in completely built units (CBUs) priced less than 40,000 US dollars or with engine capacity below 3,000 cc for petrol-run vehicles and less than 2,500 cc for diesel vehicles has been raised from 60 percent to 70 percent.

Customs duty on electrically operated vehicles in CBU form, other than with cost, insurance and freight (CIF) value of more than 40,000 US dollars has also been raised to 70 percent from 60 percent.

The document adds that custom duty on vehicles, including electric vehicles, in semi-Knocked down (SKD) form will be hiked from 30 percent to 35 percent.

Already, cars imported as CBUs with CIF more than 40,000 US dollars or with engine capacity more than 3,000 cc for petrol-run vehicles and more than 2,500 cc for diesel-run vehicles attract 100 percent customs duty.

Read Also: Budget 2023 will meet expectations of every section, says MoS Finance Pankaj Chaudhary

Increasing custom duties on completely built units (CBUs) is seen by industry insiders as a means to promote domestic manufacturing. It is believed that the hike will not have much on of an impact as most luxury cars, barring some top-end variants, are now assembled in India.

On the other hand, Nirmala Sitharaman stressed that the government will “provide impetus to green mobility” by extending customs duty exemption to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles.

Sitharaman said that adequate funds have been allocated to junk government-owned old vehicles in a bid to reduce pollution.

Sitharaman said that the central government will also lend support to states to help replace old vehicles and ambulances, pointing that scraping old polluting vehicles is a vital part for a greener economy.

She added that the government will boost coastal shipping with viable gap funding through PPP mode to promote as energy-efficient and lower-cost mode of transport for both passengers and freight.

Budget 2023: Government announces Agriculture Accelerator Fund, agri credit boosted to Rs 20 lakh crore

Nirmala Sitharaman wears red saree for Budget 2023 | A look at her love for Sambalpuri, Ikat, Kanjivaram sarees

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Kia Seltos diesel MT launched, prices start at Rs 12 lakh

The Seltos, one of the most popular Kia SUVs in India, received a facelift in July 2023 and has since achieved notable success, reaching 65,000 units in sales to date.

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Kia India has expanded its Seltos lineup with the launch of new 6-speed manual transmission variants with diesel engine options. Priced between Rs 12 lakh and Rs 18.28 lakh, ex-showroom, these trims expand the Seltos lineup to a total of 24 variants. The new diesel trims with MT and is available in 5 options THE, HTK, HTK+,HTX, HTX+.

The 116 hp, 250 Nm diesel motor was earlier offered only with an option of a 6-speed iMT and a 6-speed automatic gearbox. The Seltos, one of the most popular Kia SUVs in India, received a facelift in July 2023 and has since achieved notable success, reaching 65,000 units in sales to date.

Since its 2019 debut, the model range has sold 6 lakh units in domestic and international markets, contributing more than 51% to Kia India’s total domestic dispatches. In fact on the global level, one out of every 10 Kia cars sold is a Seltos.

The South Korean carmaker has expanded the transmission options for the model not long after the launch of the updated Hyundai Creta, which gets six diesel MT variants priced between Rs 12.45 lakh and Rs 18.74 lakh. Both prices are ex-showroom.

The new Seltos offers 32 safety features, a Level 2 ADAS suite with upto 17 features, a twin 10.25-inch display for infotainment and instrumentation, dual zone automatic air conditioner, and 18-inch crystal cut alloy wheels. Additional features include a dual-pane panoramic sunroof and electric parking brake among others.

Kia

Kia has not introduced this powertrain option on the Seltos GT Line and X-Line variants. Bookings for the Seltos diesel-MT are currently open, with deliveries slated to commence next month. In a bid to push more iMT gearbox-equipped SUVs, Kia had slowly pulled the plug on the Seltos diesel-manual from the Indian market last year. However sales of the iMT models haven’t been on par with the manual gearbox equipped models in general.

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MG Motor India launches 2024 MG Astor, prices start Rs 9.98lakh

The Astor remains mechanically unchanged. It gets two petrol engine options – a1.5ltr NA Petrol engine which puts out 110hp of power and 144 Nm of Torque. Another engine is the 1.3 ltr turbo petrol which puts out 140hp of power 220 Nm Torque.

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MG Motor India announced the launch of the 2024 MG Astor. The price for the new Astor starts from Rs 9.98 lakh and it will be available in five variants – Sprint, shine, select, Sharp Pro, and Savvy Pro. No changes have been made to the car inside or outside and it also remains mechanically unchanged.

The 2024 Astor gets additional features such as ventilated seats in the front row, auto dimming IRVM, apple car play & Wireless Android Auto and Wireless Charger along with an updated i-SMART 2.0 with over 80 connected features, Jio-powered voice recognition system, and a digital key function with an anti-theft feature.

The i-Smart 2.0 and 80+ connected features such as voice commands for News, Dictionary, Horoscope, Date/Day information, Clock, Calculator, Cricket updates and weather. Other features include a panoramic sunroof, steering weight adjustment with driving modes, heated wing leaders, 360-degree camera, tyre pressure monitor, electric parking brake, leatherette upholstery, 7-inch digital instrument cluster and 10.1 inch touchscreen infotainment system.

Astor1

In terms of safety the car gets rear disc brakes, hill start and descent control, traction control, ESP, brake assist, EBD, ABS and six airbags. It also gets Level-2 ADAS features such as Lane Keep Asist, Lane Departure Warning, Adaptive cruise control and Automatic Emergency Braking (AEB).

The Astor remains mechanically unchanged. It gets two petrol engine options – a1.5ltr NA Petrol engine which puts out 110hp of power and 144 Nm of Torque. Another engine is the 1.3 ltr turbo petrol which puts out 140hp of power 220 Nm Torque. The NA engine gets a 5-speed manual or CVT automatic, the turbo petrol gets a 6-speed torque converter automatic.

Gaurav Gupta, Managing Director, MG Motor India said they are committed to meeting customer expectations with products that showcase the latest in automobile technology. Keeping to his promise as a brand celebrating its centenary this year, the Astor 2024 line-up offers a combination of features, design, and great value propositions.

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Hyundai i20 N Line Facelift launched: Checkout features here

The Hyundai i20 N line sporty hatch has been launched with a starting price of Rs 9.99 lakh for the base N6 manual variant going upto Rs 12.31 lakh for the top of the range N8 DCT version.

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Hyundai i20 N Line Facelift launched: Checkout features here

Hyundai Motor India has launched the i20 N Line facelift soon after the introduction of refreshed i20 in the market. The new refreshed Hyundai i20 N Line continues to be available in two variants- N8 and N6. The updated model of i20 N line comes with changes to the interior, added features, new transmission and mild cosmetic updates.

Hyundai i20 N line – Price

The Hyundai i20 N line sporty hatch has been launched with a starting price of Rs 9.99 lakh for the base N6 manual variant going upto Rs 12.31 lakh for the top of the range N8 DCT version. The Hyundai i20 N line does not have any direct rivals since the discontinuation of the Polo GT TSI. The Tata Altrozi turbo is a sort of rival, removing the sportier exhaust and suspension tuning.

Hyundai i20 N Line Facelift: Powertrain and New Gearbox

The sportier version of the Hyundai i20 facelifts most important update is the addition of the traditional 6 speed manual transmission. The model replaces the 6 speed iMT unit. The 7 Speed DCT option is still present, as are the sportier exhaust note coupled with rear disc brakes and sportier suspension marking it different from its regular counterpart. The i20N Line carries over the same 1 litre turbo petrol engine delivering 172 Nm and 120 Hp of peak torque. This is the only Hyundai model that comes with this powertrain.

Hyundai i20 N Line: Features, interior and design updates

Styling includes minor styling updates on its profile, red brake calipers, newly designed 16 inch alloy wheels, new front splitter, parametric front grille design and uniquely styled front bumper with red accents. At the rear there is a restyled bumper a spoiler, red accents, twin exhaust outlets and a restyled bumper with prominent diffuser. On the inside, the i20 N linegear k knob, leather wrapped steering wheel, metal finish pedals, red ambient lighting and mild red accents.

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