Overview
It seems the imported car buyers just wait for the ban to lift and they start investing amounts in luxury cars. The dwindling economy’ citizens spend over $20 million on luxury cars import. As per the recent data, 1,159 cars were imported in the month of June 2023.
Imported cars are always the top priority of car buyers. But this huge number of imported cars in one month is shocking news. Because of the ongoing record-high inflation fell all citizens suffer. Businesses are not settling down and the devaluation of the rupee value affecting the overall economic situation. Although this is the luxury imported
Cars Import In June 2023
Despite the high inflation and depreciation of the rupee value against the dollar 65 luxury cars were imported including Land Cruisers, Lamborghinis, 285 hybrids, and 30 Electric Vehicles, including BMW, Etron, Tesla the most luxury car, and MercedesEQC. These cars acted in import after the government revised the Regulatory Duty. After revised the RD imported cars become cheaper but not that much cheaper because of dollar fluctuation.
Name of Luxury Cars Import
Here is the name of luxury cars imported last month along with the number of units imported.
- Total of 29 units of Toyota Land Cruiser Prad.
- 1 Mercedes-Benz E-180.
- Mercedes-Benz S-580 1 unit import.
- 1 unit of Mercedes-Benz S 580 HEV.
- 1 unit of Range Rover P400E Hybrid.
- 36 units of Toyota Land Cruiser (ZX/AX), Mercedes-Benz AMG G63, Lamborghini Urus.
- Similarly, 8 units of Land Range Rover Vogue, Toyota Kluger, Mercedes-Benz E300E, and Honda Accord.
- Audi E-tron 55 Quattro, Tesla Model 3, Mercedes-Benz EQC 400, Mercedes-Benz EQC 450, BMW IX M60, Porsche Taycan, and Lexus UX300E 30 units.
Conclusion
The incumbent government had imposed a ban on the import of luxury items including cars and increased Regulatory Duty (RD) to 100%. The step made a good impact and the government has saved a lot of money from it. But since the government has revised RD the imported items entry is on twinkling. the results of RD removal have up front as a huge number of luxury cars imported.
