smetimes/'Diesel car ban cost auto industry Rs 4,000 cr in 8 months'

'Diesel car ban cost auto industry Rs 4,000 cr in 8 months'

Top Stories » 'SMEs can participate in defence through HAL & DRDO' » India-US trade will be aided by interaction at many levels: FM » India to host Global Entrepreneurship Summit in 2017 » India's GDP numbers for first quarter later today » 'Excise, VAT exempted goods by states should be GST exempt' SME Times News Bureau | 31 Aug, 2016Society of Indian Automobile Manufacturers (SIAM) in New Delhi on Wednesday said the auto industry has lost about Rs 4,000 crore in last eight months after the ban on diesel vehicles in Delhi-NCR."The auto industry has lost Rs 4,000 crore in the last eight months.I feel everyone wants to regulate the auto industry," said SIAM President Vinod K. Dasari at its 56th annual convention.

Diesel ban hits auto industry revenue by Rs 4k cr

The eight-month ban on diesel vehicles (with engine capacity 2,000cc and above) in the National Capital Region (NCR) is estimated to have caused a revenue loss of Rs 4,000 crore to the automobile industry.The ban was lifted on August 12 by the Supreme Court."Led by media hype, provided with improper information, the courts decided to ban those vehicles which actually meet the standards set by the government.

SC delivered Rs. 4,000 crore blow, says auto industry body Siam

In December last year, the Supreme Court imposed a ban on sales of diesel cars in Delhi; the ban was lifted early this month.The eight-month ban on sale of diesel cars with engine capacity of over 2,000 cc in Delhi caused an opportunity loss of Rs.4,000 crore to manufacturers, industry body Siam said on Wednesday, a day before companies declare their August volume sales.