This year’s GST framework has been in favour of the buyers of the small car as well as the SUV segment, where many like Maruti Suzuki, Toyota, BMW and Jaguar Land Rover, and now Renault and Nissan announced to pass the benefits of GST rates on its vehicles to the customers. Renault has reduced the prices of its entire product portfolio by up to 7 percent, while Nissan has reduced by up to 3 percent under the GST framework and the prices will vary depending on the state, model and the variant purchased, basis the tax rates applicable prior to GST.
In India, Renault sells a Kwid, Pulse, Scala, Lodgy MPV and Duster, where the prices have been reduced for Kwid Climber AMT between a range of Rs 5,200 to Rs 29,500, for Duster RXZ AWD in a range between Rs 30,400 to Rs 1,04,700 and Lodgy Stepway RXZ (7S) between INR 25,700 to 88,600.
Speaking on this, Arun Malhotra, managing director, Nissan India Private Ltd. said, “The implementation of the GST is a positive move for both automobile manufacturers and customers. We are happy to pass on the benefits to our customers for a more attractive value proposition.
Speaking on this, Mr. Sumit Sawhney, Country CEO and Managing Director, Renault India Operations, said, “The roll out of the Goods and Services Tax from July 1, is one of the biggest achievements of the Government, facilitating a ‘one nation-one tax’ system, aimed at fostering a congenial business environment. 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. Reflecting our customer-first approach, we have decided to pass on GST benefits to our customers, further enhancing the value proposition of our products.”
As part of its long-term commitment to India, expanding the product portfolio will be pivotal for both the brands and is focusing on its business strategy to grow in the country. By the end 2017, Renault is aiming to increase its dealership network to 320 outlets pan-India.