The impact has been less as our product mix largely includes small cars. GST is quite negative because it is the same as for new cars. Hopefully, this rule is revisited," added Palle. According to market sources, volumes at Maruti True Value, the used-car arm of the country's largest carmaker by market share, have been hit by 15-20% as well. "Our business has been down by almost 20% since the implementation of the GST since we have passed on the increase in taxes to the customers. When we buy a car from an individual, we spend to get the car refurbished and, subsequently, add a profit margin, which now attracts taxes as high as the new ones. So this has kept customers at bay," said a dealer of Maruti True Value in New Delhi. The used-car market stood at 3.6 million units in 2017 compared with 3.8 million in the year before. Last year, after demonetisation, the market declined by 6%.