Budget 2022 Expectations: Aim long-term holistic growth for auto industry: Mercedes-Benz India

The Union Budget 2022 should aim at long-term holistic growth for the auto industry, luxury carmaker Mercedes-Benz India said.

The company retailed 11,242 units in 2021, a growth of 42.5 per cent over 7,893 units in 2020. Pic: Reuters

The Union Budget 2022 should aim at long-term holistic growth for the auto industry prioritising job creation, infrastructure development, introduction of latest technologies and increased decarbonisation efforts, luxury carmaker Mercedes-Benz India said.

The company retailed 11,242 units in 2021, a growth of 42.5 per cent over 7,893 units in 2020.

"With stable policies and a clear road map for the sector, an accelerated growth can be achieved transitioning the industry swiftly into the emerging e-mobility era, putting the Indian auto industry on the global map," Mercedes-Benz India Managing Director and CEO Martin Schwenk said in a statement.

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The Pune-based automaker also sought changes in the existing taxation structure.

"A re-look into the existing taxation structure with a clear focus on the direct tax changes to boost consumption, export promotion, direct job creation and promotion of digitisation is highly desired," Schwenk noted.

Continued government spending on infrastructure projects will further propel the demand for both passenger and commercial vehicles, he added.

Earlier this month, Schwenk had noted that high prices remain an impediment to the growth of the luxury car segment in India.

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