GST impact: Hyundai, Nissan, Skoda come on board with price cuts

Maruti Suzuki, Honda, BMW, Mercedes-Benz, Jaguar and Land Rover and Renault have already announced reduced prices of their cars.

The rollout of the new pan-India tax regime, Goods and Services Tax (GST), has in the recent past driven automakers in the country to cut back on the prices of their entire range of models barring hybrid cars. To comply with the uniform tax rates, Hyundai, Nissan and Skoda have joined the burgeoning list by passing on the benefits of GST to their customers. Already, Maruti Suzuki, Honda, BMW, Mercedes-Benz, Jaguar Land Rover and Renault have taken the lead by announcing reduced prices in their portfolio.

Hyundai GST prices

South Korean carmaker Hyundai has decided to reduce the prices of its models in the country by up to 5.9 percent. The price cut varies from state to state across the car range depending on the earlier VAT rates. The model-wise details of the latest price revision are expected to come shortly. In India, Hyundai's current range includes 10 car models across segments – Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Creta, Elantra and Santa Fe.

Also read: GST impact: Renault Kwid, Duster prices dropped by up to Rs. 1.04 lakh

Nissan India GST price

New Terrano, Terrano India — New TerranoPR Handout

Nissan Motor India announced that it will pass on the benefits of the GST to its customers pan India. Ex-showroom prices of the company's products have been reduced by an average of 3 percent depending on the city and model specification. Nissan in India has a portfolio of two brands, Nissan and Datsun.

"The implementation of the GST is a positive move for both automobile manufacturers and customers. We are happy to pass on the benefits to our customers for a more attractive value proposition," said Arun Malhotra, managing director, Nissan India Private Ltd.

Also read: GST price of Maruti Suzuki cars: 2017 Dzire, Vitara Brezza, S-Cross, Ignis, Baleno & others become cheaper

Skoda GST price

Czech automaker Skoda also joined the list with the price cut of up to Rs. 2.4 lakh. For now, the price cut is applicable to the Octavia and the Superb models. While the prices of the Superb went down by up to 2.4 lakh, Octavia's price dropped by Rs 1.75 lakh.