Manufacturers are busy revising their price lists post-GST. Fortunately, most cars cost less.
As reported earlier, Goods and Services Tax (GST) has brought with it some substantial price cuts on premium vehicles. However, that doesn’t mean there is no good news for those on a comparatively tighter budget.
The new GST regulations have resulted in reduced taxation on almost every vehicle category (barring hybrids, unfortunately). While the tax reduction on small and mid-sized vehicles may not be as sizeable as those on premium vehicles, there are still savings to be made – and any amount of savings on cash is always great to know.
As seen from the table above, the spectrum of compact cars has about 3-4 per cent slashed off their levied tax rate. Mid-sized vehicles – those bigger than 4-metre in length but have an engine smaller than 1.5-litre – too are benefitting from as much as 5 per cent lesser tax imposition. Consequently, the manufacturers are gladly passing on the benefits to customers in order to lure them.
Maruti Suzuki – India’s largest selling car-maker has announced a price drop of up to 3 per cent across its range. The Japanese manufacturer, which has the most extensive range of sub 4-metre cars in the country – will charge you between 2.25 – 2.50 per cent lesser on its small cars.
Toyota’s budget range may not be the most favorite around, but it too has thousands slashed off its price, which may tempt some. The Platinum Etios now costs an average Rs. 24,500 lesser and its hatchback counterpart – the Liva, has Rs. 19,000 slashed off its base price.
Other major manufacturers like Hyundai, Honda, Ford, Volkswagen, etc., are still in the process of updating their respective price lists. Official listings of most of the other automakers should be out very soon. In the meantime, here are the highlights of considering the price revisions among small and mid-sized cars.