Vehicle prices will have a hike from next month. The motor vehicles department has informed that four-wheelers, two-wheelers, and private vehicles will have a price hike from April 1.
The Department has informed that the Tax for four wheelers up to 5 lakhs will be increased by 1 percent. This will be applicable to those vehicles having a price of up to 10 lakh.
The two-wheelers having a price range from 50,000 to 1 lakh have to pay 9 percent of the amount as taxes ( earlier it was 8 percent). Better grade bikes having a price range of more than 2 lakhs have to pay an interest of 12 percent ( earlier it was 11 percent)
The new resolution was made on behalf of the increase in the cost of production and raw materials.
Auto major Mahindra & Mahindra (M&M) on Thursday said it will increase the price of its passenger and commercial vehicles by Rs 5,000 to Rs 73,000 from April to partially offset the impact of rising input costs.
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