Maruti Suzuki Slashes Prices to Boost Car Ownership in India

Maruti Suzuki India has taken a significant step to make car ownership more accessible by slashing prices across its entire model lineup. The reductions, effective September 22, 2023, reflect the company's decision to pass on the benefits of a recent GST rate cut to consumers, aligning with revised regulations.

The company, India's leading car manufacturer, is going beyond the GST benefits by offering additional price cuts, particularly on entry-level cars, in an attempt to entice two-wheeler users to upgrade. This strategic move is seen as a way to help stabilize the declining entry-level car market.

Maruti's initiative is expected to stimulate market demand, as car penetration in India remains low. The company also plans to pass on cost benefits from reduced GST rates on car parts to consumers, reducing overall ownership costs. Meanwhile, Maruti Suzuki shares remained steady on the BSE.

(With inputs from agencies.)