Ford India is set to cut the vehicle prices by up to 4.5 percent to pass on the Goods and Services Tax (GST) benefit to customers with immediate effect.
The reduction in prices will vary from state to state, while Mumbai stands to get the highest benefits. In Mumbai, the prices of the flagship SUV Endeavour of Ford saw a drop of up to Rs. 3 lakh. In Delhi, the SUV stands to get a price cut of up to Rs. 1.5 lakh. The prices of the Figo hatchback, Aspire sedan and EcoSport compact SUV have also been slashed.
"We will pass on the benefits in the range of up to 4.5 per cent across the range," a Ford India spokesperson told PTI. In June, domestic sales of Ford came down to 6,149 units, as against 9,469 units in the corresponding month last year. The exports of the company grew to 14,679 units compared to 10,285 units in June last year.
Also read: GST effect on cars, bikes, scooters & SUVs: What will come cheaper and what will cost more?
Honda Cars India has reduced the prices of its models (up to Rs. 1.31 lakh) with immediate effect. The company has cut the price of its hatchback Brio (up to Rs. 12,279) and the compact sedan Amaze (up to Rs 14,825). The prices of Jazz went down by up to Rs. 10,031 while the recently launched WR-V got a price cut of up to Rs. 10,064. The mid-sized sedan City's price has been reduced in the range of Rs 28,005 while the BR-V prices dropped by up to Rs. 30,387. Honda's premium SUV CR-V has also seen a price drop of up to Rs.1, 31,663.
Toyota Kirloskar Motor (TKM) has slashed prices of its offerings in India including the Fortuner, Innova Crysta and Corolla Altis. The prices of Fortuner, Innova Crysta and Corolla Altis have been reduced by up to 13 percent. While the popular MPV Innova Crysta's price came down by Rs. 98,500, the prices of the SUV Fortuner dropped by up to Rs. 2, 17,000. Toyota Corolla Altis got a price cut of Rs. 92,500.
