Aston Martin plans to expand its presence in India s luxury car market, targeting the growing number of rich individuals who are willing to spend on high-end brands. The company currently sells around 10-15 units in India each year and aims to introduce new models, including an electric vehicle, to attract more customers. India s luxury car market has been experiencing strong growth, with sales of ultra-luxury cars increasing by 50% in 2022. However, high taxes on super luxury cars remain a challenge, limiting sales in the country.
With passenger vehicle industry set to touch 60-70 lakh units per annum, there is a need to review and re-align businesses to the much higher scale of operations, with an enhanced focus on sustainability, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Wednesday.
Scrappage policy likely to get govt approval soon: Nitin Gadkari
Gadkari said once the policy is approved, India will become a automobile hub and there will also be reduction in the prices of automobiles
PTI | January 16, 2021 | Updated 08:13 IST
Union minister Nitin Gadkari
The much-awaited policy to scrap 15-year old vehicles is likely to get government nod soon, Union Minister Nitin Gadkari said on Friday. On July 26, 2019, the government proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electrical vehicles. We have submitted the proposal and I am expecting that we will get approval as early as possible for the scrapping policy, the Road Transport and Highways Minister said. The policy is for scrapping of vehicles which are more that 15 years old and includes cars, trucks and buses, the Minister said addressing the Atmanirbhar Bharat Innovation Challenge 2020-21 event.