It's been around 3 weeks now (20 days to be precise) since the GST(Goods and Services Tax) was rolled out. GST has affected almost every segment of Indian population depending upon their needs and their purchasing style and also every item present in the market in terms of taxes what we had to pay on them before and what we have to pay now.
Likewise, GST has affected the automobile prices which is the most talked about topic these days, especially in the middle class segment. People who were planning to buy new car have parked their idea for the time-being just because nobody is sure how GST would impact the price of car they were planning to buy.
But now most of the automakers have revealed the updated price of their models. To give you a sigh of relief, let me tell you upfront that most of the cars are now cheaper compared to what they were priced before July 1.
First of all, let's see the Tax Rates on different segment of Cars post GST Implementation:
| Base | Cess | Net | ||
| Small Cars | Petrol | 28% | 1% | 29% |
| Diesel | 28% | 3% | 31% | |
| Mid-size cars | 28% | 15% | 43% | |
| Luxury cars | 28% | 15% | 43% | |
| SUVs | 28% | 15% | 43% | |
| Hybrids | 28% | 15% | 43% | |
| Electric | 12% | 0% | 12% |
Now, let's look at the pricing details for cars under different segments both pre and post GST. (Reference has been taken with respect to Ex-Showroom prices in Delhi).On Road price differences would be slightly different as extra 3% would be levied on Insurance as part of GST. Here is the impact on:
Luxury Car Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Jaguar XJ | Rs 1.02 crore | Rs 97.39 lakh | Rs 5.11 lakh down |
| Jaguar F Pace | Rs 1.19 crore | Rs 1.10 crore | Rs 8.46 lakh down |
| Range Rover (LWB) | Rs 2.19 crore | Rs 1.70 crore | Rs 49 lakh down |
| Land Rover Evoque | Rs 67.9 lakh | Rs 56.97 lakh | Rs 10.93 lakh down |
| Honda BR-V | Rs 9.12 lakh | Rs 8.93 lakh | Rs 0.19 lakh down |
| Honda CR-V | Rs 22.64 lakh | Rs 21.53 lakh | Rs 1.11 lakh down |
| Skoda Octavia | Rs 23.35 lakh | Rs 22.15 lakh | Rs 1.2 lakh down |
| Skoda Superb | Rs 32.1 lakh | Rs 30.81 lakh | Rs 1.29 lakh down |
| Toyota Corolla Altis | Rs 19.91 lakh | Rs 18.67 lakh | Rs 1.24 lakh down |
| Toyota Fortuner | Rs 31.86 lakh | Rs 29.18 lakh | Rs 2.68 lakh down |
| Audi RS7 | Rs 1.60 crore | Rs 1.58 crore | Rs 1.04 lakh down |
| Audi R8 | Rs 2.55 crore | Rs 2.53 crore | Rs 1.3 lakh down |
| Isuzu MU-X | Rs 25.99 lakh | Rs 24.35 lakh | Rs 1.64 lakh down |
| D MAX V Cross | Rs 13.3 lakh | Rs 12.72 lakh | Rs 0.58 lakh down |
Maruti Suzuki Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Alto 800 | Rs 2.5 - 3.77 lakh | Rs 2.49 - 3.76 lakh | Rs 1,000 down |
| Alto k10 | Rs 3.3 - 4.16 lakh | Rs 3.29 - 4.15 lakh | Rs 1,000 down |
| Baleno | Rs 5.28 - 8.43 lakh | Rs 5.26 - 8.42 lakh | Rs 2,000 - 1,000 down |
| Baleno RS | Rs 8.69 lakh | Rs 8.37 lakh | Rs 32,000 down |
| Celerio | Rs 4.04 - 5.25 lakh | Rs 4.03 - 5.23 lakh | Rs 1,000 - 2,000 down |
| Ciaz | Rs 7.72 - 10.52 lakh | Rs 7.65 - 11.44 | Rs 7,000 down - 92,000 up |
| Dzire | Rs 5.45 - 9.41 lakh | Rs 5.42 - 9.39 lakh | Rs 3,000 - 2,000 down |
| Ertiga | Rs 6.22 - 9.38 lakh | Rs 6.15 - 10.44 lakh | Rs 7,000 down - 1.06 lakh up |
| Eeco | Rs 3.28 - 4.34 lakh | N.A. - Rs 4.32 lakh | N.A. - Rs 2,000 down |
| Gypsy | Rs 6.26 - 6.41 lakh | Rs 6.16 - 6.3 lakh | Rs 10,000 - 11,000 down |
| Ignis | Rs 4.59 - 7.8 lakh | Rs 4.56 - 7.54 lakh | Rs 3,000 - 26,000 down |
| Omni | Rs 2.67 - 2.69 lakh | Rs 2.66 - 2.68 lakh | Rs 1,000 down |
| S-Cross | Rs 8.07 - 12.03 lakh | Rs 7.94 - 11.66 lakh | Rs 13,000 - 37,000 down |
| Swift | Rs 4.8 - 7.46 lakh | Rs 4.79 - 7.46 lakh | Rs 1,000 down - 0 |
| Vitara Brezza | Rs 7.26 - 9.82 lakh | Rs 7.23 - 9.91 lakh | Rs 3,000 - 9,000 up |
| WagonR | Rs 4.15 - 5.36 lakh | Rs 4.14 - 5.34 lakh | Rs 1,000 - 2,000 down |
As you see, except for CIAZ and Ertiga SHVS, mostly all other car prices have gone low (upto 3%) in Maruti Suzuki. And the only reason for the increased price for these 2 cars have been the very fact that earlier both of these models used to benefit from the government subsidies given on Hybrid/Mild-Hybrid vehicles.But after GST implementation, these benefits are no longer applicable and hence this increase in price.
Ford Models :
Ford Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Figo | Rs 4.75 - 7.73 lakh | Rs 4.73 - 7.62 lakh | Rs 2,000 - 11,000 down |
| Figo Aspire | Rs 5.45 - 8.29 lakh | Rs 5.415 - 8.159 lakh | Rs 3,500 - 13,100 down |
| EcoSport | Rs 7.18 - 10.76 lakh | Rs 7.102 - 10.713 lakh | Rs 7,800 - 4,700 down |
| Endeavour | Rs 25.49 - 31.5 lakh | Rs 23.912 - 29.89 lakh | Rs 1.578 - 1.61 lakh down |
| Mustang | Rs 66.3 lakh | Rs 69 lakh | Rs 2.7 lakh up |
As evident, Ford has reduced the prices of its vehicles by upto 4.5 percent with immediate effect.
Hyundai Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Hyundai Eon | Rs 3.32-4.56 lakh | Rs 3.31-4.56 lakh | Rs 1,000 down - 0 |
| Hyundai Grand i10 | Rs 4.59 - 7.37 lakh | Rs 4.55 - 7.30 lakh | Rs 4,000 - 7,000 down |
| Hyundai Elite i20 | Rs 5.36 - 9.07 lakh | Rs 5.31 - 8.97 lakh | Rs 5,000 - 10,000 down |
| Hyundai Xcent | Rs 5.38 - 8.41 lakh | Rs 5.33 - 8.39 lakh | Rs 2,000 - 5,000 down |
| Hyundai i20 Active | Rs 6.78 - 9.78 lakh | Rs 6.68 - 9.63 lakh | Rs 10,000 - 15,000 down |
| Hyundai Verna | Rs 7.95 - 13.17 lakh | Rs 7.84 - 12.62 lakh | Rs 11,000 - 55,000 down |
| Hyundai Creta | Rs 9.28 - 14.56 lakh | Rs 8.92 - 13.93 lakh | Rs 36,000 - 63,000 down |
| Hyundai Elantra | Rs 13 - 19.31 lakh | Rs 12.48 - 18.46 lakh | Rs 52,000 - 85,000 down |
| Hyundai Tucson | Rs 19 - 25.01 lakh | Rs 18.13 - 23.86 lakh | Rs 87,000 - 1.15 lakh down |
| Hyundai Santa Fe | Rs 29.58 - 33 lakh | Rs 27.86 - 31.07 lakh | Rs 1.72 - 1.93 lakh down |
Nissan Datsun Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Nissan Micra Active | Rs 4.61- 5.42 lakh | Rs 4.58 - 5.46 lakh | Rs 3,000 - 4,000 down |
| Nissan Micra | Rs 5.99 - 7.23 lakh | Rs 5.95 - 7.27 lakh | Rs 4,000 down - 4,000 up |
| Nissan Sunny | Rs 6.99 - 8.99 lakh | Rs 6.89 - 8.93 lakh | Rs 10,000 - 6,000 down |
| Nissan Terrano | Rs 9.99 - 14.2 lakh | Rs 9.84 - 14.03 lakh | Rs 15,000 - 17,000 down |
| Datsun redi-Go | Rs 2.41 - 3.41 lakh | Rs 2.41 - 3.39 lakh | Rs 0 - 2,000 down |
| Datsun Go | Rs 3.83 - 4.24 lakh | Rs 3.81 - 4.22 lakh | Rs 2,000 down |
| Datsun Go+ | Rs 4.56 - 5 lakh | Rs 4.54 - 4.97 lakh | Rs 2,000 - 3,000 down |
Tata Motors Models :
| Model | Pre-GST Price Range | Post-GST Price Range | Price Difference |
|---|---|---|---|
| Bolt | Rs 4.78 - 7.43 lakh | Rs 4.63 - 7.16 lakh | Rs 15,000 - 27,000 down |
| Hexa | Rs 11.99 - 17.66 lakh | Rs 10.95 - 16.23 lakh | Rs 1.04 - 1.43 lakh down |
| Nano | Rs 2.29 - 3.26 lakh | Rs 2.29 - 3.26 lakh | Rs 0 |
| Safari Storme | Rs 10.72 - 15.72 lakh | Rs 9.78 - 14.47 lakh | Rs 94,000 - 1.25 lakh down |
| Sumo | Rs 7.26 - 8.7 lakh | Rs 6.86 - 8.03 lakh | Rs 40,000 - 67,000 down |
| Tiago | Rs 3.3 - 5.68 lakh | Rs 3.21 - 5.64 lakh | Rs 9,000 - 4,000 down |
| Tigor | Rs 4.7 - 7.09 lakh | Rs 4.58 - 6.87 lakh | Rs 12,000 - 22,000 down |
| Zest | Rs 5.29 - 8.74 lakh | Rs 5.16 - 8.48 lakh | Rs 13,000 - 26,000 down |
As evident, Tata Motors has also reduced the prices of its vehicles by upto 12 percent.
So, if we have to conclude this, introduction of GST has brought some good news for new Car Buyers as all cars barring hybrid vehicles have become more affordable than before. Although there will be some increase in insurance costs and loan EMIs as service tax has been increased from 15 percent to 18 percent.
Have any questions or queries? Please do comment below. Would be happy to answer them.
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