Indian car manufacturer Tata Motors has revised car prices across models effectively from 1 July 2017.
Tata Motors had announced price reduction of up to 12 per cent ranging between Rs 3,300 and Rs 2,17,000 depending on the model and variant. The new revised prices have also been reportedly revised based on the tax rates which have been applicable prior to GST.
The car maker's President Mayank Pareek said that the step was taken with a strong focus to encourage positive buying sentiments.
Pareek said the car maker decided to pass on the whole benefit to its customers following the roll-out of GST.
Welcoming the introduction of GST, Pareek said this would enhance the ease of doing business and usher in a new era for the economy in general and especially, for the automotive industry.
The new drop in prices is expected to help Tata Motors strengthen its foothold in the Indian market. Owing to uncertainly over GST pricing, the Indian automaker witnessed a 5 per cent drop in year-on-year growth. Tata Motors owned premium brand Jaguar Land Rover has also passed on the GST benefits to its customers.