After the recent GST reduction, many car companies have reduced the prices of their vehicles.
This move is expected to boost car sales during the festive season, especially as many customers had delayed their purchases in anticipation of a price cut.
In August, auto retail sales increased by only 3%, with 19.6 lakh vehicles sold.
Two-wheeler sales grew by just 2%, and overall sales were affected by floods in several states.
However, the industry is hopeful that sales will rise in the coming weeks.
Which Car Brands Reduced Prices?
Several major automakers have slashed their prices:
Tata Motors and Mahindra had already reduced prices.
Maruti Suzuki, India’s biggest car company, has hinted at upcoming discounts of up to 9% on its cars.
Kia India has reduced prices between ₹48,513 and ₹4.48 lakh, with the Carnival receiving the highest discount.
Kia India’s MD & CEO Gwanggu Li said the company welcomes the government’s decision and will pass on the full benefit of the GST cut to customers.
Biggest Discount: Lexus Reduces SUV Price by ₹20.8 Lakh
Other companies offering big discounts include:
JSW MG Motor India: Price cuts from ₹54,000 to ₹3.04 lakh, effective from September 7.
TVS Motor Company (two-wheelers): Also announced price reductions.
Lexus (Japanese luxury brand):
ES 300h sedan: Now cheaper by ₹1.47 lakh.
LX 500d SUV: Massive discount of ₹20.8 lakh.
The Lexus LX 500d, which costs around ₹3 crore, now has a price cut big enough to buy 4 Maruti Altos, whose base price is about ₹5 lakh.
Other Car Brands Offering Discounts
Mahindra: Discounts of up to ₹1.56 lakh on select models.
Tata Motors: Price cuts of up to ₹1.55 lakh.
Maruti Suzuki: Expected to announce discounts soon.
Overall, the GST cut is bringing significant savings for customers and could lead to a surge in demand during the upcoming festive season.
