Automakers are in a rush to pass on benefits from GST to customers, by reducing prices of their products — in a bid to retain their respective market shares, even as they aim to sail through post-GST currents.
Carmaker Ford India has decided to reduce vehicle prices by up to 4.5% with immediate effect to pass on the GST benefit to customers. While the reduction in prices will vary from state to state, the highest cut will be in Mumbai with the company’s flagship SUV Endeavour becoming cheaper by up to Rs 3 lakh.
In Delhi, price of hatchback Figo has been cut by Rs 2,000, while that of compact SUV Ecosport by up to Rs 8,000. Price of premium SUV Endeavour has been reduced by up to Rs 1.5 lakh. In Mumbai, the prices will go down in the range of Rs 28,000 on Figo, to Rs 3 lakh on Endeavour.
Honda Cars India has brought down prices of its models by up to Rs 1.31 lakh with immediate effect. The company has cut prices of its hatchback Brio by up to Rs 12,279, and that of compact sedan Amaze by up to Rs 14,825. Besides, it has slashed price of Jazz by up to Rs 10,031, and that of its recently launched model WR-V by up to Rs 10,064. Price of mid-sized sedan City has been reduced in the range of Rs 16,510 to Rs 28,005.
Two-wheeler manufacturers are not far behind. TVS Motor Company has reduced prices of its models by up to Rs 4,150 to hand down GST benefit to customers.
“The price reduction is in the range of Rs 350 to Rs 1,500 in the commuter segment. In the premium segment products, the prices are reduced up to Rs 4,150 depending on each state,” TVS Motor Company said in a statement.
Similarly, Honda Motorcycle and Scooter India has reduced prices of its two-wheelers by up to Rs 5,500.
