New Delhi, Sep 6 Renault India announced a significant price reduction for its cars on Saturday, following the rollout of GST 2.0, passing the entire benefit on to customers.
Prices of its three models — Kwid, Triber and Kiger — have been slashed by up to Rs 96,395.
As per the French carmaker, with this revision, the Kwid now starts at Rs 4,29,900 (ex-showroom), while both the new Triber and the new Kiger begin at Rs 5,76,300 (ex-showroom).
The updated prices will apply to all deliveries made on or after September 22; however, bookings at the revised rates are open immediately at Renault dealerships.
"Passing on the full GST 2.0 benefit is a reflection of our unwavering commitment to our customers. We believe this timely initiative will not only make our cars more accessible but also energise demand during the festive season," said Venkatram Mamillapalle, Managing Director, Renault India.
The move comes after Tata Motors also confirmed that it would pass on the full benefit of the new GST rates, effective from September 22. As a result, the Tiago will see price reductions of up to Rs 75,000, while the Nexon will become cheaper by as much as Rs 1,55,000.
Under the new GST 2.0 framework, all internal combustion engine (ICE) cars are now taxed at either 18 per cent or 40 per cent.
Smaller cars such as hatchbacks, compact sedans, and compact SUVs fall under the 18 per cent slab, while mid-size, larger, and luxury models attract 40 per cent. Previously, ICE vehicles were subject to 28 per cent GST plus an additional compensation cess ranging between 1 per cent and 22 per cent depending on size and engine capacity.
For electric vehicles, the GST rate remains unchanged at 5 per cent, while hydrogen fuel cell vehicles (FCEVs) have seen a reduction from 12 per cent to 5 per cent.
Other automobile majors like Mahindra and Mahindra, Maruti Suzuki and others will likely follow suit anytime before the new GST rates come into effect on September 22.
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