Yes, you’ve read the title Right! Maruti Suzuki Grand Vitara is all set to get cheaper by upto Rs. 5 Lakhs, and this will be all possible with huge GST Percentage Cut. Let’s break down these information to help you understand what this means for the Indian consumers.
Hybrids to become Affordable Soon!
Union Minister for Road Transport and Highways, Nitin Gadkari, has proposed a substantial tax reduction on hybrid vehicles, potentially benefitting popular models like the Maruti Grand Vitara. He suggested that slashing the current 48% GST on hybrid vehicles to 12% could lead to significant cost savings for new buyers.
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The Maruti Grand Vitara has been performing exceptionally great, and this is because of its spacious, premium, and especially the Hybrid which is garnering lots of attention in the market. Maruti offers a hybrid version of the SUV, with prices ranging from Rs 18.43 – Rs 20.09 Lakh ex-showroom. At the moment, the on-road price of range topping trim is Rs 22.91 Lakh, inclusive of all charges and taxes. However, excluding 28% GST and 15% CESS, the ex-factory cost of the top trim Hybrid lands at Rs 14.05 Lakh.
Gadkari’s proposal to reduce GST to 12% could significantly impact the car’s pricing. With this adjustment, the ex-showroom cost would be around Rs. 15.74 Lakh. This reduction translates to a significant difference, making the car approximately Rs 4.35 Lakh Cheaper. Moreover, this price drop would reflect in the on-road price as well, potentially resulting in savings of around Rs. 5 Lakhs depending on the City of Purchase. Additionally, other hybrid models like the Toyota Hyryder, Maruti Invicto, Toyota Innova HyCross and Honda City Hybrid will also benefit from lower taxes, resulting in significant savings for buyers.
Overall, Gadkari’s proposal aims to incentivize the adoption of hybrid vehicles and promote eco-friendly transportation options in the country.
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