Mahindra 038; Mahindra,Tata Motors fall on duty hike proposal for SUVs

8220;SUVs occupy greater road and parking space and ought to bear a higher tax. I propose to increase the excise duty on SUVs from 27 per cent to 30 per cent. However,the increase will not apply to SUVs registered as taxis,8221; he said during

his Budget speech.

A sport utility vehicle SUV is a vehicle similar to a station wagon or estate car,usually equipped with four-wheel drive for on and off-road ability. In highly volatile trade,the BSE benchmark Sensex was trading at 19,164.89,up 12.48 per cent in afternoon trade.