TVS, Honda & Suzuki announce cuts

Major two-wheeler makers have cut prices of their vehicles across models following the introduction of GST (Goods and Services Tax) from the midnight of June 30. TVS Motor Company, Honda Motorcycles & Scooters India Pvt. Ltd., and Suzuki Motorcycle India Private Limited (SMIPL) have all announced a reduction in prices.

The price reduction announced by TVS Motor ranges between ₹350 and ₹1,500 in the commuter segment. In the premium segment products, prices have been reduced up to ₹4,150 depending on each State.

“Dealers will be given suitable assistance on the opening stock as on July 1, 2017 purchased by them at pre-GST price,” said a statement from TVS Motor.

Suzuki Motorcycle India Private Limited (SMIPL) said a unified Indian market would be beneficial to the automobile sector as it would have a levelling impact.

2% decrease

“Under GST, consumer and premium segment vehicles would witness a 2% decrease in taxes, and Suzuki is very pleased to pass this benefit onto its customers in the form of reduced prices. Suzuki vehicles, which fall under the 28% tax slab, will see a reduction in price,” it said in a release.

Yamaha had already announced a revision in its prices. Honda said its customers could get “significant savings up to ₹5,500 depending on the model and the State of purchase.”