Nissan cuts prices on average by 3%; Tata Motors reduces prices by up to 8.2%
Nissan and Tata Motors joins in the line of car companies that have announced a reduction in prices due to the implementation of GST.
- Nissan cut the ex-showroom vehicle prices by an average 3%
- Tata Motors cut prices of its commercial vehicles (passenger) between 0.6% to 8.2%
- This the latest cut in prices due to the impact of the lower GST rates
Nissan is the latest car company in India to announce a cut in the price across their vehicles. The company cut the ex-showroom vehicle prices by an average 3% in India, according to a Bloomberg report.
Even Tata Motors today announced a cut in the prices of its commercial vehicles (passenger) between 0.6% to 8.2% and cargo commercial vehicles cut between 0.3% to 4.21%.
This the latest cut in prices due to the impact of the lower goods and service tax (GST) from the taxes imposed on the company earlier. The government has imposed a 28% GST rate on automobiles apart from other levies imposed on particular car and bike segments.
This has resulted in a drop in taxes ranging from 2.25% to 12% depending on the category.
Car companies such as Maruti Suzuki, Hyundai, Tata Motors, Honda Cars India, Toyota Kirloskar Motors, Ford, Jaguar Land Rover and BMW have recently announced a reduction in the prices of cars across the range.
Honda Cars for instance has cut the price of it cars in the range of Rs 16,510 to Rs 1,31,663. Maruti Suzuki has reduced the prices of its cars from Rs 5,000 to Rs 40,000 across various models.
Hyundai cut the prices of its small cars by around Rs 8,000 – Rs 24,000 and a higher cut of the prices of its sedans such as Verna and Elantra by around Rs 27,000 – Rs 70,000. The prices of it's SUV's have been cut by Rs 1 lakh to Rs 2.5 lakh.
Toyota has cut the prices of Etios and Corolla by up to Rs 57,000, bu the Fortuner and Land Cruiser prices have been cut as much as Rs 3 lakh to Rs 10.5 lakh.
Ford has cut the prices of the EcoSport by up to Rs 13,000 and the Endeavour SUV by Rs 2.7 lakh. Mercedes-Benz has offered price cuts up to Rs 7 lakh for its vehicles and BMW prices have dropped by Rs 4 lakh. Jaguar Land Rover has reduced prices on its cars by up to Rs 6 lakh.