Skoda Auto India on Wednesday said it will cut prices across its entire product portfolio by up to Rs 3.3 lakh to pass on the full GST reduction benefits to customers.
Effective Sept. 22, the price of Kodiaq SUV will be reduced by up to Rs 3,28,267, while that of compact SUV Kylaq by up to Rs 1,19,295. Similarly, SUV Kushaq will see a price reduction of up to Rs 65,828, while that of sedan Slavia by up to Rs 63,207, the company said in a statement.
"The revised and simplified GST structure is a welcome step by the government of India, that works in favour of both the industry and our customers," Skoda Auto India Brand Director Ashish Gupta said.
By improving accessibility in the volume segment and bringing clarity to the premium space, it gives buyers greater value in their purchase decisions, he added.
"For us, this means our products are available at even more attractive prices, allowing the brand to reach a wider audience...," Gupta noted.
The company further said is currently extending limited-period offer benefits equivalent to upcoming GST reduction on the Kushaq, Slavia, and Kodiaq models, valid till Sept. 21.
Passing On Benefits
Leading Indian carmakers have already announced steep price cuts across their portfolios after the GST Council reduced tax rates on automobiles last week.
Under the next-generation GST reforms, the government has lowered the goods and services tax rate on small cars from 28% to 18%, while luxury vehicles now attract a flat 40% rate.
According to Kotak Institutional Equities, on-road prices are expected to fall 5-8% on average, with passenger vehicles seeing reductions of 2-9% in overall cost. Automakers have moved quickly to pass on the benefit, announcing cuts ranging from thousands to a few lakhs across several models.
A host of companies have already passed the benefits on to customers or announced price cuts in their range of models, including Mahindra & Mahindra, Tata Motors, Hyundai Motor India, Mercedes-Benz India and more.
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