Mahindra & Mahindra, Toyota, and Renault have announced they will pass on the benefits of a recent GST rate reduction to prospective buyers. This move follows an overhaul of indirect taxes, with price cuts already in effect or soon to be implemented.
Mahindra & Mahindra on Saturday said that its SUV portfolio will see price reductions ranging from ₹1.01 lakh to ₹1.56 lakh. For example, the Scorpio-N, which previously had a 48 per cent tax (GST + cess), now has a 40 per cent tax, leading to a savings of ₹1.45 lakh. The new prices take effect on September 6.
Toyota Kirloskar Motor will implement its price cuts from September 22. The prices of the Fortuner, Crysta, and Hycross are set to drop by up to ₹3.49 lakh, ₹1.8 lakh, and ₹1.15 lakh, respectively. Other models like the Glanza and Taisor will also see significant reductions.
Renault India is also reducing prices, with its most affordable model, the Kwid, getting a price cut of up to ₹55,095. The Triber will be cheaper by up to ₹80,195, and the Kiger by up to ₹96,395.
Tata Motors on Friday also announced price cuts on its passenger vehicles, ranging from ₹65,000 to ₹1.45 lakh, effective September 22.
The GST Council on Wednesday has lowered the tax on petrol, CNG and LPG vehicles with up to 4 metres in length and up to 1,200 cc engine, including hybrids, from 28 per cent to 18 per cent.
