New car prices could rise by up to €10,000 if taxes increase in budget

28 of September, 2020
Filed under: Latest News

Prices of popular new cars could rise by up to €10,000 if recommendations from the Tax Strategy Group are implemented in next month’s budget.

According to figures from the Volkswagen Group, which has a 28.6 per cent share of the new car market through its brands, prices for its best-selling Tiguan crossover with a 2-litre diesel engine could rise by €6,335 if the tax changes are implemented. Even the 1.5-litre petrol manual transmission version would rise by €3,439, while the seven-seat people carrier Sharan, with a 2-litre diesel engine and automatic transmission, would go up by €10,061.

At Skoda, prices for the brand’s popular Karoq small crossover with a 1-litre petrol engine would rise by €2,864, while variants of the larger Skoda Kodiaq diesel crossover will rise by as much as €5,969.

For Audi, significant price rises include €2,094 for an A4 diesel and €3,947 on a similarly powered Q3 crossover.

Rival car brand Hyundai, with a 9.5 per cent share of the new car market, estimates some of its models may rise by €2,000. Its managing director, Stephen Gleeson, described the Tax Strategy Group’s proposals as “beyond belief” in the current Covid-19 economic crisis.

Article Source: click here.