GST impact: Mahindra cuts prices of utility vehicle, SUV by up to 6.9%
Mahindra & Mahindra announces a reduction in prices of its utility vehicles and SUVs by up to 6.9% on an average to pass on the GST benefit to customers
New Delhi: Mahindra & Mahindra on Tuesday announced a reduction in prices of its utility vehicles and SUVs by up to 6.9% on an average to pass on the GST benefit to customers.
The prices of vehicles for end customers on large UVs and SUVs have been reduced by an average of 6.9%, while those that come under small car segment have been reduced by an average of 1.4%, Mahindra said in a regulatory filing.
Similarly, the company has reduced prices of small commercial vehicles by an average of 1.1% and 0.5% for light commercial vehicles and heavy commercial vehicles, it added. The company has, however, increased price of hybrid vehicles marginally.
“These price changes to end customers will vary across states or even cities within a state, due to the differing levels of pre-GST local taxes,” the company said. The company said there would be no change of prices for tractors. “We believe this landmark reform will significantly improve the ease of doing business and Indian competitiveness. It will also benefit consumers, thus being a win-win for all,” the company said.
Already companies including Honda Cars India, Ford, Maruti Suzuki, Toyota Jaguar Land Rover, BMW, Mercedes-Benz and Audi have reduced prices to pass on 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.
- Biocon receives EIR from USFDA for its Bengaluru facility producing sterile
- Infosys to now focus on relentless execution, stability concerns addressed: Nandan Nilekani
- McDonald’s adopts eco-friendly cutlery in West and South India
- US investors seek Chanda Kochhar’s ouster from ICICI Bank
- LIC seeks govt nod to buy controlling stake in IDBI Bank