Ahead of the Goods and Services Tax (GST) rollout on July 1, most luxury carmakers have reduced the prices of their India-assembled models.
Under current taxation system, SUVs and other luxury cars are taxed above 50 per cent, however, once the GST is effective the prices on these cars will come down to 43 per cent including the cess.
Though the GST will make only luxury cars and SUVs a bit cheaper, car makers like Ford and Isuzu are also offering a pre-GST discounts on their small and mid-size cars.
Here's how much you can save if you buy your car now:
Mercedes-Benz India has reduced prices by up to Rs 7.5 lakh of its locally assembled cars and SUVs. Its nine 'Made in India' models like CLA, GLA, C-Class, E-Class, S-Class, GLC, GLE, GLS and Mercedes-Maybach S 500 gets the price benefit from the new GST regime and are more affordable.
It announced 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' models. The new price will be effective immediately.
The actual price cut, though, anywhere between 2 per cent and 9 per cent, will vary according to the outgoing taxes compared against the new state-wise GST rates.
Jaguar Land Rover brought down prices of three of its models in India by up to Rs 4 lakh. The Range Rover Evoque will now be available for 45.85 lakh, whereas the Discovery Sport will be priced at Rs 43.80 lakh. The petrol variant of Jaguar XE sedan Jaguar XE sedan will be available for 37.25 lakh. All figures are ex-showroom prices for Delhi.
Isuzu Motors India is offering discounts of up to Rs 1.5 lakh on its models such as the newly-launched MU-X and the V-Cross, ex-showroom price. MU-X was earlier priced at Rs 23.9 lakh and Rs 25.9 lakh for the 4X2 and 4X4 variants. The five-seater SUV now carries a price tag of Rs 22.4 lakh for the 4X2 and Rs 24.4 lakh for the 4X4 AT versions.
The car manufacturer is also offering discount benefits on its V-Cross model. It was earlier priced at Rs 13.3 lakh and after application of discount, it would be priced at Rs 12.7 lakh, ex-showroom, Delhi.
Joining the club of carmakers elated about GST rollout, Ford India has announced discounts on its three models. The car maker will give Rs 30,000 off at most on its compact SUV EcoSport, hatchback Figo and sedan Aspire to pass on the benefit from tax cuts under GST. The EcoSport will offer discounts up to Rs 20,000 to Rs 30,000 depending on the variant. The other two models, Figo and Aspire will be discounted for Rs 10,000 and Rs 25,000.
BMW has cut prices by up to 12 per cent of ex-showroom prices. Since May 19, the German automaker is offering customers several incentives.
For financing, it has reduced the rate of interest to 7.9 per cent. The German carmaker is also offering complimentary service and maintenance for three years, assured buyback guarantee for four years and one year complimentary insurance.
German luxury car maker Audi has slashed prices of its models in India by up to Rs 10 lakh till June 30. The company sells a range of cars, ranging from A3 sedan to A8 premium sedan currently priced between Rs 30.5 lakh and Rs 1.15 crore.
"As opposed to the market trend, this is not a measure to clear old stock; we are extending the benefits on our new cars as well," Audi India Head Rahil Ansari said in a statement. The reduction in prices on Audi vehicles sold in India will range from Rs 50,000 to Rs 1.5 lakh on entry level A3 sedan to Rs 10 lakh on flagship A8 sedan.