GST 2.0 price cut: Porsche 911 Carrera to Cayenne GTS get cheaper by up to ₹14 lakh
Porsche India has announced up to ₹14 lakh price cut across its entire ICE-powered range of sports cars, owing to GST 2.0.
Following the tax slab restructuring under the GST 2.0 regime that is slated to be effective from September 22, several automakers across different segments have announced price cuts for their respective range of automobiles, in order to pass on the tax benefits to the customers. The latest auto company to join the list of these auto OEMs in India is Porsche. The German high-performance car manufacturer under the umbrella of Volkswagen AG has announced a major price cut for its entire range of cars that are powered by internal combustion engines (ICE). The spectrum of price cuts ranges between ₹6 lakh and ₹14 lakh, depending on the model.
The reduced pricing of the Porsche cars is slated to be effective from September 22, which is the same date as the new GST regime. With this price cut, right during the festive season, the carmaker is expecting to see a boost in its demand and sales in the country.
Here is a quick look at the price cuts the Porsche cars have received following the GST 2.0 rate cuts.
Tax on cars under GST 2.0: An overview
The passenger vehicles under the GST 2.0 regime are slated to become cheaper, regardless of which segment it is positioned in. While the majority of the mass-market cars have been placed in the reduced 18% slab from the current 28% GST slab, the luxury cars will attract a 40% GST. However, despite the high rate of GST, the total tax incidence on luxury cars has been reduced, as the compensation cess has been withdrawn. With this, all the passenger vehicles in the country that run on internal combustion engines (ICE) will be cheaper from September 22, with the price cut spectrum varying.
The electric vehicles, however, will not see a price cut, since under the GST 2.0 regime, tax rates for EVs remain unchanged.
GST 2.0: Porsche cars become slightly affordable
Porsche India has slashed the pricing of its cars by up to ₹14 lakh. The biggest price cut announced is for the Cayenne GTS, which will now be priced at ₹1.94 crore (ex-showroom), ₹14 lakh down from ₹2.08 crore (ex-showroom). Its sportier sibling, the Porsche Cayenne GTS Coupe, also comes with a ₹14 lakh price cut, available at ₹1.95 crore (ex-showroom), as compared to ₹2.09 crore (ex-showroom).
The minimum price cut for any Porsche model is for the 911 Carrera 4 GTS, which is now available at ₹2.78 crore (ex-showroom), down by ₹6 lakh from ₹2.84 crore (ex-showroom). The ICE-powered Porsche Macan too received a ₹6 lakh price cut to ₹90 lakh (ex-showroom), down from ₹96 lakh (ex-showroom).
Among other models, the Porsche 911 Carrera will now be priced at ₹2 crore (ex-showroom), down by ₹11 lakh from ₹2.11 lakh (ex-showroom). Porsche Cayenne and Cayenne Coupe pricing, too, has been slashed by ₹11 lakh. The Cayenne will now be priced at ₹1.38 crore, down from ₹1.49 (ex-showroom), while the Cayenne Coupe will be priced at ₹1.44 crore (ex-showroom), down from ₹1.55 crore (ex-showroom). The Cayenne Black Edition will command a price of ₹1.68 crore (ex-showroom), ₹12 lakh down from ₹1.80 crore (ex-showroom). The Cayenne Coupe Black Edition, too, will be cheaper by ₹12 lakh at ₹1.75 crore (ex-showroom), down from ₹1.87 crore (ex-showroom). The Panamera and Panamera GTS will come priced at ₹1.71 crore (ex-showroom) and ₹2.33 crore (ex-showroom), respectively, thanks to price cuts of ₹9 lakh and ₹13 lakh, respectively.
Meanwhile, the Macan EV and the Taycan EV will retain their existing prices.
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