Date of Release:
Mar 9 2016
The news that India is introducing a new tax on car sales to help combat severe air pollution and congestion problems has unsurprisingly been decried by the country’s car industry.
The chair of India’s largest car manufacturer, Maruti Suzuki, says the tax “is going to hurt the industry, and will impact growth and affect job creation”. Following the announcement, shares in Maruti Suzuki traded more than 5% lower.