Following the recent GST cuts proposed by the Indian government, several leading automobile manufacturers have proposed a price drop for their vehicles to encourage potential customers to benefit from the deduction. GST rate cuts will come into effect on September 22, and are expected to increase vehicle sales during the festivals and the rest of the fiscal year.
Kia India, an automobile company, said it would lower prices by Rs 48,513 to Rs 4.48 lakh, with the multipurpose vehicle carnival having the biggest cuts. “We welcome the government’s visionary citizen-centric reforms… In line with this vision, we are proud to pass on the full benefit of GST rate reductions to our customers,” said Gwanggu Lee, MD & CEO, Kia India.
Moreover, JSW MG Motor India also reduced its prices by Rs 54,000 to Rs 3.04 lakh following the GST deduction on September 7.
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TVS Motor Company said it would expand the benefits of its lower duties across its ICE(Internal Combustion Engine) range, explaining the rate rationalisation as a bold and transformative move that will boost consumption.
Lexus, a luxury Carmaker, has rolled out its vehicle prices, announcing sharp savings, ranging from Rs 1.47 lakh for the ES 300h sedan to Rs 20.8 lakh for the flagship LX 500d SUV.
