The automotive industry is one of the largest markets in the world and had been one of the fastest growing industries globally. The ancient man started with wheels and now with the revolution one can easily see what masses are up to in automobile industry. The invention of wheel changed everything slowly and gradually. The science and technology crafted everything so decently that nowadays it is a child’s play to talk and dream about cars. Predictably petroleum was invented at around four thousand years ago. Masses know that we have lot of categories in petroleum; the commonly known and associated by auto industry are Petrol and diesel respectively.
Discussing further about a combination of wheels and technology one can know that it resulted into vehicle development. Now keeping the globe apart and talking about India we would like to interest one that we India have a hot automobile mart. One can see a fast updating of cars in this mart on regular short intervals and hence the market became hot and choosey for consumers. As the petrol prices hitting through the common masses pockets the consumer became more choosey. A competition has grown further in between diesel cars and petrol cars.
Smart investment and consuming of money have become the need of the hour. As a result diesel cars are now coming back in fashion as they are money saver and a game changer for customers. If we see back years petrol cars was more in fashion and it does not mean that now petrol cars are not but the choice has been bent more towards diesel diva’s. The recent research predictably shows that the popularity of new as well as used diesel cars is growing. The bit bad news for masses is that the pocket is going to hit again. The news in the air is that the Government of India has been long considering levying up taxes for diesel vehicles. We would like to interest masses that Government of India is now considering a selective levy of the additional excise duty or diesel surcharge on only “Diesel SUV’s”.
Much talk is about the diesel price hikes as 50 paise per month. The Government of India earlier decided to levy taxes on all diesel cars, but as automobile industry hugely opposed this act that is why it did not work well. The Government of India played nicely this time and has proposed taxes just on the “Diesel SUV’s”. The utility Vehicle mart has grown at around 59% from April to December last year. The overall auto mart grew on a less number of percentages having just 8.5% of hike. The SUV love of masses has increased the consumption of diesel so by this is why predictably Government of India got the reason for marking up its mind for extra surcharge on diesel SUV’s. The decision is pending and can be seen in action in the upcoming budget session for April. The decision can give hit to consumers who love to buy SUV’s. We predict that decision can also affect diesel SUV makers too. One of the biggest auto tycoon Mahindra & Mahindra can be affected because the auto giant shares 47.6% of market share in Utility market segment.