Mercedes-Benz cuts car prices by an average of 4% to pass on GST benefit to customers
- Mercedes-Benz India pass off the goods and service tax (GST) benefit to customers
- Price revision on cars on a weighted average of 4% will be effective immediately
- The price reduction of the entire ‘Made in India’ portfolio ranges from 2% to 9% depending on the tax structure
Mercedes-Benz India on Thursday announced that it will cut the prices of its cars as it looks to pass off the goods and service tax (GST) benefit to customers. The price revision on a weighted average of 4% will be effective immediately, said the company in a statement.
A downward revision in its transaction prices to cover the difference in current ex-showroom prices and post GST ex-showroom prices for customers on the entire range of ‘Made in India’ product portfolio.
The price revision on a weighted average of 4% will be effective immediately, and is aimed at providing value to a customer’s purchase decision before GST implementation, it said.
The price reduction of the entire ‘Made in India’ portfolio ranges from 2% to 9% depending on the tax structure and local body taxes of the state. The weighted average of this is a price reduction of 4% on transaction prices of customers.
Some of the Mercedes-Benz cars that will become cheaper will include models like CLA, GLA, C-Class, E-Class, S-Class, GLC, GLE, GLS and Mercedes-Maybach S 500, which are part of the 'Made in India' models of the company.
Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, “As a customer centric initiative, we are now passing on the benefits of post-GST pricing of our ‘Made in India’ cars with immediate effect. To ensure complete peace of mind for our customers, we have decided to pass on the GST tax benefits at an earlier stage at our cost. This approach will benefit the customers who want to purchase a locally produced Mercedes-Benz from now on and during the month of June. The impact on the prices on CBU vehicles is yet to be evaluated. We think the implementation of the GST structure is a landmark achievement for the Indian economy, which will support the ease of doing business in India. We are also confident that post GST implementation; there will be growth momentum in the luxury car industry.”
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.