Rising fuel prices may dampen auto sales this year | Autocar India

However, vehicle manufacturers could likely face a sales speed breaker in the form of rising fuel prices. Dynamic pricing or daily fuel revision, which kicked in on June 16, 2017, continues to give considerable heartburn to motorists in India.

On April 2, motorists tanking up on petrol had to pay Rs 73.83 in New Delhi, Rs 76.54 in Kolkata, Rs 76.59 in Chennai and Rs 81.69 in Mumbai, which is also a four-year high for the financial capital. And those who fill diesel had to shell out Rs 64.69 in New Delhi, Rs 67.38 in Kolkata, Rs 68.24 in Chennai and Rs 68.89 in Mumbai. The high prices for the fossil fuels seem likely to stay for some time.

Meanwhile, the government is unlikely to make any immediate reduction in excise duty to cushion the rise in global oil prices. According to PTI, when Finance Secretary Hasmukh Adhia was asked whether a second round of excise duty cut was in the offing, he said, “Not as of now. Whenever we review it, we will let you know.”

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Rising fuel prices may dampen auto sales this year – Autocar India.

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