GST impact: Renault cuts vehicle prices by up to 7%
Renault announces a reduction in price of its vehicles by up to 7% in India, ranging between Rs5,200 and Rs1.04 lakh, to pass the GST benefit to its customers
New Delhi: French car major Renault on Wednesday announced a reduction in price of its vehicles by up to 7% in India, ranging between Rs5,200 and Rs1.04 lakh, to pass the GST benefit to its customers.
The company has cut price of its hatchback Kwid Climber AMT between Rs5,200 to Rs29,500, SUV Duster RXZ AWD between Rs30,400 to Rs1,04,700 and that of Lodgy Stepway RXZ between Rs25,700 to Rs88,600.
“Reflecting our customer-first approach, we have decided to pass on GST benefits to our customers, further enhancing the value proposition of our products,” Renault India operations country CEO and managing director Sumit Sawhney said in a statement.
The roll out of the GST is one of the biggest achievements of the government, facilitating a one nation, one tax system, aimed at fostering a congenial business environment, he added.
“While there may be a short-term disruption as the whole system adapts to this economic transformation, but in the long term it will be very positive for the economy and corporate India,” Sawhney said.
Editor's Picks »
- BlackBerry Key2 with DTEK, physical keyboard launched in India; price, specifications
- Groundwater in Sterlite plant area contaminated beyond permissible limits: Govt
- Ace Turtle to foray into online FMCG, electronics retail
- Lok Sabha passes Negotiable Instruments Act amendment to cut litigation over bounced cheques
- Govt to park shares of PSUs in investment fund to meet public float rule
- Bajaj Auto’s dismal Q1 results builds a case for FY2019 earnings cut
- GST on paints cut, but companies may not pass on full benefit immediately
- June quarter results signal Havells India is off to a bright start this fiscal
- Business gains, not just cost efficiencies, to determine UPL’s Arysta acquisition success
- What ABB India’s performance in June quarter says about capex growth