Maruti, BMW, Toyota and JLR lowered the prices in the range of Rs 2,300 to over Rs 2 lakh of multiple models to pass on to customers the advantage of lower tax incidence under the GST management.
Top automaker Maruti Suzuki India has slashed prices of the majority of its models by up to 3 per cent with direct effect excluding diesel versions of sedan Ciaz and MPV Ertiga with gentle hybrid technology, which saw increase in prices by over Rs 1 lakh.
Maruti puts on the market a variety of vehicles from Alto 800 to S-Cross that was priced among Rs 2.46 lakh to Rs 12.03 lakh (ex-showroom Delhi). It has cut the price of Alto in the range of Rs 2,300 to Rs 5,400, WagonR Rs 5,300-Rs 8,300 and that of Swift between Rs 6,700 and Rs 10,700.
Maruti has also reduced price of compact SUV Vitara Brezza ranging between Rs 10,400 and Rs 14,700, whereas that of S-cross has been cut in the range of Rs 17,700 and Rs 21,300.
It has moreover reduced the price of Baleno in the range of Rs 6,600 and Rs 13,100. The company has also reduced the price of Dzire, ranging between Rs 8,100 and Rs 15,100. Price of Ertiga petrol has been slashed by up to Rs 21,800 while that of petrol powered Ciaz by up to Rs 23,400.
Toyota Motors also announced slashing prices ranging between Rs 10,500 and Rs 2.17 lakh (ex-showroom Bengaluru).
The company believed it has lowered prices of latest Fortuner by up to Rs 2.17 lakh, Innova Crysta by up to Rs 98,500 and Corolla Altis by up to Rs 92,500. It has also decreased the prices of Platinum Etios by Rs 24,500 and that of Etios Liva by up to Rs 10,500.
Jaguar Land Rover has condensed prices of its complete vehicle range in India on an average by 7 per cent to go by the profit of reduced tax under GST.
BMW has also cut prices of its models, ranging from Rs 70,000 on base end version of X1 to Rs 1.8 lakh on the top end of its sedan 7 series.
Under the GST, large luxury cars and SUVs with engine capacity of over 1,500 cc are slated to attract a 15 per cent cess over and beyond peak rate of 28 per cent, thus bringing down the on the whole tax incidence compared to around 50 per cent under the previous taxation system.
