NEW DELHI — Kia India and JSW MG Motor India have announced big price cuts across their whole range of vehicles. This is a big step to improve consumer confidence and make cars more accessible. The price cuts are directly related to a recent GST rate cut. The judgments came after the government made a bold move to make the Goods and Services Tax on passenger automobiles more fair.
On Monday, Kia India said it would cut the cost of its cars by as much as Rs 4.48 lakh. The price drop, which starts on September 22, will be different for each model. The price of the Kia Carens will go down by at least Rs 48,513, while the price of the deluxe Kia Carnival will go down by a huge Rs 4,48,542, which is the biggest drop in the company’s portfolio. Mr. Gwanggu Lee, the Managing Director and CEO of Kia India, says that this move fits with the brand’s “customer-first” culture and is a smart move to help the automotive industry expand before the holiday season.
JSW MG Motor India has also slashed prices, much like the other car companies on the list. The company has lowered the cost of its models by Rs 54,000 to Rs 3.04 lakh. The new rates in effect from September 7. The price cuts affect its popular ICE (Internal Combustion Engine) SUV line, which includes the Hector, Astor, and Gloster. The MG Gloster will witness a price cut of up to Rs 3.04 lakh, the Hector’s price will drop by up to Rs 1.49 lakh, and the Astor’s price will drop by up to Rs 54,000. JSW MG Motor India is also giving clients more financial freedom by offering 100% on-road funding and a 3-month EMI break.
The two automakers are doing this because of the recent GST Council meeting, where they promised a simpler tax scheme for cars that will replace the convoluted GST plus compensation cess system. People think that this change will increase demand and boost sales, especially during the holidays.