Automakers Nissan, Skoda and Isuzu Motors on Thursday announced a reduction in the prices of passenger vehicles in India by up to Rs 2.4 lakh to pass on the GST benefit to customers.
Japanese automaker Nissan said it had scaled down prices of its vehicles, including the Datsun brand, by an average of 3 per cent in the country.
"The implementation of the GST is a positive move for both automobile manufacturers and customers. We are happy to pass on the benefits to our customers for a more attractive value proposition," Nissan Motor India MD Arun Malhotra said in a statement.
The company sells a range of vehicles under Nissan and Datsun brands, ranging from hatchback RediGo to SUV Terrano, in Indian market.
Hyundai Motor India also said it has reduced prices of its vehicles by up to 5.9 per cent to pass on GST benefit to customers.
The rate of reduction varies from state to state across the car range depending on the earlier VAT rates. The price reduction will be up to 5.9 per cent exshowroom Delhi, Hyundai Motor India said in a statement.
Czech car maker Skoda reduced prices of Superb model range by up to 7.3 per cent in Mumbai, resulting into a price benefit of up to 2.4 lakh.
The revision in the Octavia model range varies from 4.9 per cent and 7.4 per cent, resulting in a maximum benefit of Rs 1.75 lakh, the company said.
Japanese auto major Isuzu Motors India Pvt. Ltd., has also reduced prices ranging from 6 to 12 % across models in accordance with the GST rates.
The price of the mu-X, Isuzu's new 7-seater premium SUV has been revised to Rs. 22,38,358 (4X2 Variant) ex-showroom Chennai, a reduction of 8 %. The reduction in ex-showroom prices of mu-X has been in the range of 6% to 12% across ISUZU showroom locations in India, the company said.
The price of the ISUZU DMAX V-Cross, an adventure utility vehicle has been revised to Rs.12,67,111, a reduction of 6% over the pre-GST Ex-showroom price in Chennai.
In the two-wheeler segment Bajaj Auto's Austrian arm KTM has reduced the prices of its sports bikes by up to Rs 8,600.
Ex-showroom prices of the sub 350cc KTM range, including the 200 Duke, RC 200 and 250 Duke have been reduced by up to Rs 8,600 post GST.
The company said the rate of reduction varies across locations depending on the VAT rates applicable prior to GST.
Tata Motors and Renault had on Wednesday announced a reduction in prices. Companies like Mahindra & Mahindra Honda Cars India, Ford, Maruti Suzuki, Toyota Jaguar Land Rover, BMW, Mercedes-Benz and Audi have already reduced prices to pass on the GST benefits.
Even two-wheeler makers like TVS Motor Company, Honda Motorcycle & Scooter India, Hero MotoCorp, Bajaj Auto, Royal Enfield, Yamaha and Suzuki Motorcycle have cut prices.
Similarly, Tata Motors cut prices of its commercial vehicles by up to 8.2 per cent.