EU India to sign trade agreement Volkswagen Audi and Skoda benefit

According to news from foreign media, the proposal of the EU's India to sign a bilateral trade agreement will probably benefit the Volkswagen Group's Audi and Skoda brands.

At present, the rate of import of new cars in the Indian market is 100%. According to the content of the trade agreement, India will reduce the import tax rate of new cars to 60%.

The Indian auto industry is worried about the establishment of free trade relations with the European Union. The reason is that the import tariffs on passenger cars have fallen and the domestic market has been affected by imported cars from the European Union. On the other hand, the current EU imposes heavy taxes on cars produced in India, and the Indian government intends to break ice.

In accordance with the agreement's proposal, India may reduce the import tax rates of Audi A4, A6, A8 and Q7, BMW 7 Series and other models.