According to Kapil Arora, Partner - Automotive Services, Ernst & Young, "Keeping the aam aadmi theme in mind, the proposed reduction is excise duty from 16 per cent to 12 per cent for two wheelers, three wheelers and small car segments will provide some relief and growth impetus.
The auto industry, however, would have most certainly wanted a greater reduction in the excise rates.
Over the next few quarters, this excise reduction, combined with more liberal credit availability should see the reversal of the recent slowdown and an eventual return to positive growth as price reductions are passed on to customers."
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