There’s been a rise in sales of high-end cars and bikes in Chennai last year.
What’s it about? In 2022, there was a 53% increase in the sales of luxury cars and bikes compared to the previous year. Three RTOs in the city accounted for more than one-fourth of Aston Martins, Bentleys, and Ducatis. Celebrities, politicians, and industrialists often get their vehicles registered in the state due to lower road taxes.
- Transport authorities have become more strict regarding vehicle registrations by making Aadhaar cards mandatory for local address proof. Previously, luxury vehicles were registered in Puducherry to evade taxes.
- The RTOs in KK Nagar, Aynavaram, and Thiruvanmiyur were at the top of the list in registrations beating out Coimbatore and Tirupur.
Tax rates: The road tax on ex-showroom prices is 7% in Puducherry and 15% in Tamil Nadu. Imports attract 100% import duty with another 18% for state commercial taxes. The road tax in neighbouring states like Karnataka is Kerala is 18% and 20%, respectively.