GST Impact: Renault India curbs prices by up to 7%
Renault announces a reduction in price of its vehicles by up to 7% in India.
Automobile major Renault India on Wednesday announced that it has reduced the prices of its vehicles by up to seven per cent to pass on the benefits of the Goods and Services Tax (GST) rates to customers.
The prices have been reduced between Rs 5,200 and Rs 29,500 for KWID Climber AMT, between Rs 30,400 and Rs 1.04 lakh for Duster RXZ AWD, and between Rs 25,700 and Rs 88,600 for Lodgy Stepway RXZ (7S), said the Indian subsidiary of the French automobile company.
"Reflecting our customer-first approach, we have decided to pass on GST benefits to our customers, further enhancing the value proposition of our products," Sumit Sawhney, Country CEO and Managing Director, Renault India Operations, said in a statement.
"While there may be a short-term disruption as the whole system adapts to this economic transformation but in the long-term, it will be very positive for the economy and corporate India," Sawhney added.