INDIA BECOMES 4TH LARGEST AUTO MARKET
In FY20 around 26.36 million vehicles were manufactured in the country.
Two wheeler and mid size cars dominated the segment with about 81% and 13% approximately. In fact September 20 saw an increase up 26.45% for passenger vehicles over September 19.
In fact recently the government launched a plan to incentivize through additional Income Tax deduction of 1.5 lakh on Interest paid on loan for Electric Vehicles, this will give a boost for sales of electric vehicles.
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