Budget 2014: AMW Motors welcome the excise duty reduction for auto sector

In the Interim Budget 2014-15 announced by Union Finance Minister, P Chidambaram in Parliament yesterday, one of the key highlights is the Excise duty reduction from 12 to eight percent for automobile sector in the Vote on Account 2014. AMW Motors Limited, one of the leading commercial vehicle manufacturer from Bhuj, Gujarat has hailed the move.
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Anirudh Bhuwalka, Managing Director and CEO of AMW Motors Ltd said: “The cut in excise duties is a welcome step for the commercial vehicles industry, which is facing one of its worst crises in several years. However, unless the overall economic situation improves, we feel this will only have a marginal impact on driving demand. As the CV industry is closely linked to economic development, there are still too many uncertainties in overall policy and implementation measures to lift the sentiments of customers”.

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