Even a person earning ₹ 40 thousand per month will now ride Maruti Alto, ₹ 36000 will be saved directly, EMI will be reduced by ₹ 1 thousand
New Delhi. If you are thinking of buying a car or bike then there is good news for you. Due to the government’s decision to reduce the GST rate, there is going to be a significant decline in the prices of vehicles. Companies are preparing to pass on the benefits of GST to the customers. From small cars, bikes to luxury vehicles, the rates of everything are going to be reduced. While a car like Alto will be cheaper by around ₹ 36,000, the price of a luxury car like Mercedes S450 will come down by around ₹ 10 lakh. India’s favorite Activa scooter can also become cheaper by up to Rs 7000.
Top industry analysts and research agency Crisil have made these estimates. However, companies have not yet announced the official cut as they are making final calculations about the impact of the tax cut. This gift of GST reduction given by the government just before the festive season will benefit both customers and companies. Experts believe that due to reduction in GST, there is a possibility of a big jump in the sales of cars and bikes.
Maruti Alto will be cheaper by Rs 36000
The price of Maruti Alto will be reduced by Rs 36000 after the reduction in GST. Currently the price of its base model in Delhi is Rs 4.23 lakh. Due to reduction in GST it can become Rs 3.87 lakh. Because of this, this car will also become accessible to low income people. While this will directly save Rs 36,000, by buying on loan the EMI will also be reduced by around Rs 1,000. At a price of Rs 4.23 lakh, the EMI will be Rs 8,570-₹9,180 (8%-11% interest rate), while the price will come down to Rs 7,840-₹8,390.
Hyundai Creta will be cheaper by one lakh rupees
After the new GST structure, Hyundai Creta will be cheaper by around ₹ 1.1 lakh, while Maruti Brezza will see a price cut of up to ₹ 90,000. Now there will be a saving of about ₹ 2.6 lakh on Toyota Innova, which is considered the first choice of families.
Rs 7000 will be saved on Honda Activa.
Not only cars, two-wheelers will also be lighter on the pocket. The price of the popular Honda Activa scooter will be reduced by approximately ₹ 7,000. The youth’s favorite Bajaj Pulsar 150 will get a relief of up to ₹ 9,500.
There will be a surge in sales
Auto companies believe that this decision will bring new life to the auto sector. Maruti Chairman R.C. Bhargava said that lower taxes will increase the purchasing power of people and will bring new energy into the market. TVS Chairman Sudharshan Venu said that now two-wheelers will become more accessible to every class and people will also be excited to upgrade.
