The new GST norms have been a huge sigh of relief for potential car buyers in India with promising price cuts
After the implementation of the latest GST reforms, small cars have become enticingly cheaper, although the impact is felt across the board. These norms come at a great time when the inflation is quite high the cars have been getting more expensive with each passing day. Also, the reduction and simplification of the existing GST rates ahead of the festive season is aimed at boosting sales and creating demand. This is a great time for car buyers to get their hands on their favourite model with considerable discounts. Here is the list of affordable vehicles which will get even more appealing.
Small Cars Made Cheaper Under New GST Reform
Maruti Alto K10 (Rs 4.23 lakh – Rs 6.21 lakh)
The first car on this list is the Maruti Alto K10. It is the most successful entry-level product in the country. In fact, it has held that title for years now. In its current iteration, it boasts tons of new-age amenities, including design, features and safety. After the latest GST rates, we can expect the prices of the Alto K10 to go down between Rs 35,000 to Rs 60,000. That is a huge amount considering its existing price.
Maruti Celerio (Rs 5.64 lakh – Rs 7.37 lakh)
Next up, we have the Maruti Celerio. Despite such stiff competition in this space (primarily due to other Maruti Suzuki cars), the Celerio has been able to churn out some great sales over the years. We even saw it getting an update a few years ago. At present, the new GST norms can lead to a potential price reduction ranging from Rs 45,000 to Rs 75,000.
Maruti WagonR (Rs 5.79 lakh – Rs 7.62 lakh)
The Maruti WagonR is one of the highest-selling products in India ever. Over the years, the largest carmaker in the country has updated it several times to keep it fresh and relevant. In all honesty, it has worked extremely well since it continues to be close to its highest demand ever even today. That is a testament to the popularity and appeal of the WagonR. The new GST norms could cause a price drop between Rs 50,000 and Rs 90,000 on the hatchback.
Renault Kwid (Rs 4.70 lakh – Rs 6.45 lakh)
Moving away from Maruti Suzuki, the Renault Kwid has also attained impressive success in our market due to being an affordable car. In fact, its upright stance gains attention of a whole bunch of potential buyers, particularly in semi-urban parts of the country where the roads are not perfect. The high ground clearance is ideal to traverse across such road surfaces. The existing ex-showroom prices will see go down by around Rs 40,000 to Rs 70,000.
Tata Tiago (Rs 5 lakh – Rs 8.55 lakh)
Tata Motors makes its entry into this list with the Tiago. It has been quite successful in our market due to being the sole 5-star safety-rated vehicle in its class. That attracted a lot of new buyers. It recently got an update and now embodies tons of the latest tech and convenience functionalities. The multiple powertrain options (petrol, CNG and electric) also ensure that it is accessible to a wider range of buyers. After the application of the new GST norms, there are enticing price cuts available on it, which range from Rs 55,000 to Rs 1 lakh. These are some incredibly high numbers and would certainly draw a lot of new consumers in.
Hyundai Grand i10 Nios (Rs 5.98 lakh – Rs 8.65 lakh)
Yet another hatchback belong to the same segment as the Tiago is the Hyundai Grand i10 Nios. It has been a volume churner for the Korean auto giant for many years now. Hyundai kept updating it to keep it fresh and appealing. Hence, it comes with loads of modern features along with styling elements and multiple powertrain options to meet the needs of customers. The new GST rates have caused the ex-showroom price of the Grand i10 Nios to fall by Rs 50,000 to Rs 75,000.
Maruti Swift (Rs 6.49 lakh – Rs 9.64 lakh)
Finally, we take a look at arguably the most successful hatchback in the country, the Maruti Swift. It has been able to achieve over 30 lakh (3 million) sales in our market ever since its inception back in 2005. Now, that is something truly unbelievable. What is even more impressive is the fact that its demand is still close to all-time high. Therefore, the customers are still as interested in it as they were years ago. The price reduction of Rs 50,000 to Rs 1.05 lakh will further boost its demand.
My View
Now, I must mention here that the prices of almost all cars have gone down after the latest GST rates. However, since the entry-level cars make the most volume and the ratio of discounts is quite high, I have decided to mention these here. The overall impact of the new GST laws is bound to be positive for the industry, especially since the festive season is about to commence. It will be intriguing to see the sales figures by carmakers this time around.
Also Read: Hyundai Motor India Welcomes GST Reforms
