Offer better discounts & deals with vehicle scrapping certificates: Nitin Gadkari to auto makers
The Road Transport and Highways Ministry has introduced a scrappage policy to promote and incentivise the scrapping of old, unfit, and polluting motored vehicles, and to establish registered vehicle scrapping facilities (RVSFs).
Union Minister of Road Transport and Highways Minister Nitin Gadkari on Tuesday met representatives of the auto industry and suggested that manufacturers offer better discounts and deals to customers for opting to purchase vehicles with scrap certificates, in a bid to promote the central scrappage policy.
The auto industry representatives accepted the suggestion.
As agreed upon, several auto manufacturers agreed to offer limited-period discounts, with passenger vehicle (PV) makers willing to offer discounts for one year and commercial vehicle (CV) makers for two years.
The discounts will be of the magnitude of up to 3 per cent on ex-showroom prices in case of heavy CVs and up to 2.75 per cent in case of smaller CVs.
In the passenger vehicle segment, the discounts will be up to 1.5 per cent.
The Road Transport and Highways Ministry has introduced a scrappage policy to promote and incentivise the scrapping of old, unfit, and polluting motored vehicles, and to establish registered vehicle scrapping facilities (RVSFs).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 5 mid cap mutual funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Exclusive: Sebi reviews authorised person regulations; discusses minimum qualification, NISM certification and deposit amount criteria
SIP Investment: Can Rs 70/day savings help you build Rs 6 crore corpus? Understand calculations for 10, 20, 30, and 40 years at 13%, 14%, and 15% return
Stocks To Buy For 2 Weeks: Axis Direct recommends buying these stocks for 5-15 day; check targets, stop losses
EPF vs SIP vs PPF: Which can help generate highest retirement corpus on Rs 11,000 monthly investment in 30 years?
08:33 PM IST