Renault India has now announced that due to the implementation of the Goods and Service Tax Bill (GST), the prices of its entire product portfolio has been reduced by up to 7 percent. The price reduction will depend upon the specific model and the variant and also in which state the vehicle has been purchased. The Indian automotive industry has a lot to rejoice for, with the GST in effect as apart from Hybrids, the prices of all vehicles across various segments have been reduced due to the lower tax rates. Currently, Renault India’s portfolio consists of its entry level hatchback KWID, compact hatchback Pulse, C-Segment sedan Scala, the compact SUV Duster and the people carrier Lodgy. Related Story: GST Effect: Maruti Suzuki Swift, Baleno, Ignis & Vitara Brezza prices reduced
Talking about the price reduction, for instance, the costs for the recently launched Renault KWID Climber AMT have been reduced in-between the mark of INR 5,200 to INR 29,500. For the Renault Duster RXZ AWD between INR 30,400 to INR 1,04,700 and Renault Lodgy Stepway RXZ (7S) between INR 25,700 to INR 88,600. Also Read: GST effect on cars: Honda WR-V, City, BR-V, Brio & others get price cuts of up to INR 1.31 lakh
Mr. Sumit Sawhney, Country CEO and Managing Director, Renault India Operations, said, The roll out of the Goods and Services Tax from July 1, is one of the biggest achievements of the Government, facilitating a one nation-one tax system, aimed at fostering a congenial business environment. While there may be a short-term disruption as the whole system adapts to this economic transformation, but in the long term it will be very positive for the economy and corporate India. Reflecting our customer-first approach, we have decided to pass on GST benefits to our customers, further enhancing the value proposition of our products. Also Read: GST Effect: Ford Endeavour, EcoSport & Figo prices slashed
Just like Renault, other automakers in India have too announced a major dip in the prices of their products in India due to the GST effect. Country’s largest automobile manufacturer, Maruti Suzuki India Limited has announced that it will reduce the prices of its entire product portfolio by up to 3 percent. Following the same lines, Tata Motors has too announced that the prices of its products are to go down by up to 12 percent and Ford India by 4.3 percent; also included in the list is Honda Car India, Jaguar, Mercedes and BMW among the others.