Auto Companies Profiteering

All auto companies are saying they will not pass benefit of tax cuts to consumer. this is just terrible.

Isnt this straight profiteering? Hows this different from govt reducing gst and they not passing to consumer.

members of circles need to take this up with Govt. The Govt should have just cut our tax rate so people would have gotten more in hand income.

This suits come to india narrative but not put more in the pocket on ground real situation. more  

View all 17 comments Below 17 comments
Absolutely correct. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. BUY TATA only - thats it. more  
You seem to be in a hurry! First check the revised tax structure effective date and then wait and see. Since the auto industries are worst affected by the recent recession in the country's economy, the new auto buyers will certainly be the beneficiaries of the reduced taxes. more  
Mr Sudhir Mehta to please note that the Maruty Udyog has yesterday announced a price cut of their cars. As reported, other car makers are also on the way to reduce their prices. more  
Factually incorrect. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. more  
This is straight away the case of cheating consumers who will not hesitate to file legal case against the auto industry business for refund of the benefit of the tax rate cuts. I hope the government of India does it on its own and refund the recovered unpassed GST-CGST to CWF (in the case of unidentifiable consumers) without any deductions under Section 97, which again is illegal Chungi Deduction by the Government of 50% of the Integrated GST Rate, and direct refund to the identified consumers.

I shall feel obliged if the consumers who have been refused by the dealers and distributors of the automobile industry not to give the benefit of integrated tax cuts to the identified consumers , and refund to CWF as mentioned above.

In case there is any related advertisement by the industry, please bring the same to my notice at "gcmbinty@yahoo.com" by emailing a softy copy. more  
Auto Industries is going through Turbulence. Government has already squeezed out every benefits they had showcased to them. Compared to the red carpet rolled out to KIA, MG & Other new comers and sops extended to them, has Government done any justice to our home grown motor manufacturers? Well, if the Auto Industry has decided to not pass the benefit and defy the Finance Ministers diktat, there definitely is something going on behind the scenes. Any way, CHILL....festivals are around the corner and you will still get Festival Discount continuing from October till January next. Competition will ensure that they slash each others throats if not the Government's. more  
Factually incorrect. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. more  
I wonder where Mr Bhawnani got his news from.

Even if the news is true, every company is free to set its prices, in a competitive market. The auto market is competitive. The government should not intervene to fix their prices.

Because of competition, and because IC engines poison the environment, every company which refuses to move to electric or fuel cell technology, is doomed to die in a few years. If they refuse to pass on any extra profits, they will die faster. RIP. more  
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