Marked down tag for luxury

The Indian govt is currently negotiating a free-trade agreement with the European Union

In the next few years, you wouldn't have to shell out exorbitant amount of money to buy luxury cars in India. The Indian government is currently negotiating a free-trade agreement (FTA) with the European Union. Most of the big luxury auto badges come from Europe, including Ferrari, BMW, Mercedes-Benz, Volvo and Audi. Come 2017, when the auto sector will put into operation a lower levy regime, the customs duty would be lowered to 30 per cent from the current levels of 100 per cent and above.

Luxury car owners have been complaining about the heavy duty that is levied on imported vehicles. A car above Rs 22 lakh faces 100 per cent custom duty. That's not all, if one includes other cesses, surchages and duties like special additional and countervailing duties, the duties go up to a whopping 174 per cent.

So which cars would get cheaper and by how much, if and when, these custom duties are slashed?

AUDI A8 (diesel)
Current Price: Rs 89 lakh
Cut price: Rs 58 lakh

MERCEDES SLK
Current price: Rs 73 lakh
Cut Price: Rs 48 lakh

PORSCHE 911 CARRERA
Current Price: Rs 1.08 crore
Cut Price: Rs 69 lakh

LAMBORGHINI AVENTADOR
Current price: Rs 4.7 crore
Cut Price: Rs 3.1 crore

TOYOTA LAND CRUISER
Current Price: Rs 1.1 crore
Cut Price: Rs 75 lakh

FERRARI CALIFORNIA
Current Price: Rs 2.2 crore
Cut Price: Rs 1.4 crore

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