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India-UK Trade Pact Slashes Luxury Car Prices by Up to ₹3 Crore
Customs duty on fully imported UK cars drops to 30% under a 20,000-vehicle annual quota, cutting prices by ₹1-3 crore from July 15.
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Luxury car prices in India are set to drop by ₹1-3 crore after the India-UK free trade agreement takes effect July 15. Customs duty on fully imported cars will fall to 30% under an annual quota of 20,000 vehicles.
Most brands have not yet announced their revised pricing. The duty cut applies to cars imported as completely built units, a category that includes models from Bentley, Rolls-Royce, and Jaguar Land Rover. The quota is allocated on a first-come, first-served basis each year.