GST peps up car market
There was a lot of confusion and fervid speculations regarding GST and its implication on the car market. While many feel that post-GST prices of several things have gone up, there is some good news for car buyers.
Prices of several small and mid-size car models have come down after GST implementation, which makes it easy on the pocket for the middle class buyer. In fact the higher priced cars have seen even greater cuts. The popular Fortuner SUV from Toyota for instance has seen a price drop of over Rs. 3 lakhs.
Maruti’s current bestseller the Baleno has seen a price drop ranging from Rs 35,000 to Rs 75,000 depending on variants. There have been marginal rise in insurance and EMI rates but that is offset largely by the lowering of car prices. Companies are also upbeat and looking at enhanced sales in the sector which has seen a complacent trajectory over the past few months. Most companies have directly passed over the tax benefit to customers. Here are some of the most popular car models and their prices after the new tax regime coming into force from July 1.
Pre-GST the car’s Mumbai ex-showroom tag was Rs 2.74 lakh, which has now come down to Rs 2.60 lakh, a straight fall of about 4.75 per cent or about Rs 15, 000.
The ZDi model of this popular entry-level sedan from the trusted Maruti stable, which carried an ex-showroom price tag of Rs 9.85 in Mumbai is now selling for Rs 9.32 lakh, seeing a drastic drop of about 5.4 per cent.
Another popular mid-level sedan from Maruti, the Ciaz’s Sigma model is selling for a lucrative Rs 7.83 ex-showroom Mumbai against a pre-GST price of 8.31 lakh, which is again, a drop of about 5.8 per cent.
Toyota Corolla Altis
This elite sedan has seen a whopping 10 per cent reduction in ex-showroom Mumbai price. The 1.8 VL CVT petrol variant is selling for Rs 18.9 lakh instead of the earlier Rs 21 lakh, making it over Rs 2 lakh cheaper than earlier.
To get details of popular models, click next page-