GST 2.0: These brands have slashed car prices by lakhs
What's the story
The introduction of GST 2.0 has resulted in significant price drops for a range of cars across India. The reductions span from entry-level hatchbacks to luxury SUVs, with potential savings ranging from ₹65,000 to as much as ₹11 lakh, depending on the model. Starting September 22, small cars with engines up to 1,200cc will attract an 18% GST rate, reduced from the earlier 28%. For premium cars, a uniform 40% slab has been introduced, effectively replacing the steep compensation cess.
Mahindra savings
Mahindra's price cuts under GST 2.0
Mahindra has announced price cuts of up to ₹1.56 lakh on its models. The Bolero Neo is now cheaper by ₹1.27 lakh, while the XUV 3OO sees a reduction of up to ₹1.56 lakh depending on fuel type. Other models like the Thar range, XUV700, as well as Scorpio Classic and N also see significant price drops of up to ₹1.45 lakh under GST 2.0 implementation.
Tata savings
Tata Motors and Toyota announce reductions
Tata Motors has also joined the bandwagon of manufacturers announcing price cuts under GST 2.0. The Tiago is now cheaper by ₹75,000 while other models like the Tigor, Altroz, Punch, Nexon, and Harrier see reductions of up to ₹1.55 lakh. Toyota has announced even bigger cuts with the Fortuner getting a massive reduction of ₹3.49 lakh under GST 2.0.
SKODA savings
SKODA and Renault's GST cut on select models
SKODA has announced a GST cut of ₹66,000 on the Kushaq model. The Slavia sedan gets a reduction of ₹63,000 under GST 2.0 implementation. The Kodiaq has become cheaper by ₹3.3 lakh. The company is also offering festive benefits of up to ₹2.5 lakh across all models. Renault's Kiger sees the highest cut in its lineup with savings up to ₹96,395 under the new tax regime.
Hyundai price cuts
Tucson enjoys the maximum discount of ₹2.4 lakh
Hyundai has announced significant price reductions across its lineup, with savings of up to ₹2.4 lakh on the Tucson model. The Grand i10 Nios is now ₹73,808 cheaper, while the i20 enjoys a reduction of ₹98,053. The i20 N-Line is now ₹1.08 lakh cheaper. Among Hyundai's SUVs, the Venue has been reduced by ₹1.23 lakh, while the Creta sees a cut of ₹72,145. The Creta N-Line version is ₹71,762 cheaper, and the Alcazar has been reduced by ₹75,376.
Luxury models
BMW and Mercedes-Benz's major price cuts under new tax regime
Luxury carmakers BMW and Mercedes-Benz have also announced major price cuts under GST 2.0. The 2 Series Gran Coupe from BMW now costs ₹45.3 lakh, while the X7 gets a cut of ₹10 lakh, bringing its price down to ₹1.2 crore from ₹1.3 crore earlier. Other models like S-Class S 450 4MATIC, GLS 450d AMG Line also see significant reductions in their prices under the new tax regime implementation on September 22 across India.