555 new cars have been sold last month.
New-car dealers have had a prosperous month in January: 555 new vehicles have been sold as opposed to 493 reconditioned cars.
The selling of new cars is often concentrated in the first month of the year because buyers tend to have a predilection for having the new vehicle they intend to buy at the beginning of the year itself as opposed to buying it at another period of the year, says Mrinal Teelock from the Motor Vehicles Dealers Association in a statement to DefiMedia.info. He adds that, on the other hand, this job entails much precariousness.
Mrinal Teelock explains that their situation is different from that of resellers of reconditioned cars. He says that the tax exemption is at Rs 61,000 for the latter and only Rs 26,000 for new cars. Furthermore, a car dealer of new cars has to pay Rs 140,000 as Excise Duty while a reseller pays only Rs 8,000 for the same car model.