The Indian government has revised its policy on the import of classic vehicles. According to the new policy, cars aged 50 years or above will be eligible for import into the country. This policy replaces the previous rule which restricted the import of vehicles manufactured post 1950. The vintage cars will be subject to the rules mentioned in Motor Vehicles Act 1988 in addition to the conditions mentioned under chapter 3 A of the Central Motor Vehicles Rules, 1989.
Also Read: Electric Cars, SUVs Set To Become More Expensive In Kerala With Increase In Road Tax
The Directorate General of Foreign Trade (DGFT) has, however, strictly banned the resale of these imported cars stating that they are for personal use only. In a warning to dealers, it was stated that any attempt to resell vintage cars in India could lead to stricter conditions being introduced in the future, including a potential five-year no-sale rule. All cars imported to India will also continue to be levied with Customs duty, GST and registration, which will all come to around 250 per cent of the value of the car.
Also Read: Maharashtra May Soon Make 'Parking Certificate' Mandatory For New Car Registration: Report
The classic car collector community is quite active in India, most notably in cities such as Mumbai and Delhi. Classic car meets are a common occurrence in these cities where car collectors have a chance to display their prized possessions for the public to view. These functions usually feature vintage cars from companies such as Mercedes-Benz, Jaguar, Fiat, Cadillac, and Ford. However, with the onset of the new rules, the number of classic car collectors in the country could very very well go up, leading to a larger variety of vehicles on display at vintage car shows.
