Lexus India Slashes Prices Across Range by Up to Rs 20.8 Lakh Following GST Rate Cut
Lexus India has announced significant price reductions across its entire product range, with cuts from Rs 1.47 lakh to Rs 20.8 lakh. The ES 300h sedan sees a Rs 1.47 lakh reduction, while the flagship LX 500d SUV price is cut by Rs 20.8 lakh. These reductions, effective from September 22, are in response to recent GST rate changes. Hikaru Ikeuchi, President of Lexus India, views this as enhancing accessibility to Lexus vehicles and boosting confidence in the luxury mobility segment during the festive season.
*this image is generated using AI for illustrative purposes only.
Luxury automaker Lexus India has announced significant price reductions across its entire product lineup, with cuts ranging from Rs 1.47 lakh to a substantial Rs 20.8 lakh. This move comes in response to recent changes in Goods and Services Tax (GST) rates, with the revised prices set to take effect from September 22.
Price Reduction Details
The price cuts span across the Lexus India portfolio. While specific details for all models are not provided, two notable examples include:
| Model | Price Reduction |
|---|---|
| ES 300h | Rs 1.47 |
| LX 500d | Rs 20.80 |
The reductions range from Rs 1.47 lakh for the ES 300h sedan to a substantial Rs 20.8 lakh for the flagship LX 500d SUV.
Impact on Luxury Mobility Segment
Hikaru Ikeuchi, President of Lexus India, expressed optimism about the impact of these price reductions. He described the GST rate changes as a "historic reform" and emphasized that the price cuts are aimed at enhancing accessibility to Lexus vehicles.
Ikeuchi stated, "The price reductions will boost confidence in the luxury mobility segment during the festive season." This move is expected to make Lexus vehicles more attractive to potential buyers, particularly as the festive season approaches.
GST Benefits Passed to Customers
The luxury car manufacturer's decision to reduce prices is a direct result of passing on the benefits from the GST rate reduction to its customers. This aligns with the government's intention to make luxury vehicles more accessible to Indian consumers through tax reforms.
Timing and Market Implications
With the new prices taking effect from September 22, Lexus is positioning itself to capitalize on the typically high-demand festive season in India. The significant price cuts, particularly on high-end models like the LX 500d SUV, could potentially impact the luxury car market in India.
This move by Lexus India may prompt other luxury automakers to reassess their pricing strategies in light of the GST changes, potentially leading to a more competitive luxury car market in India.
As the automotive industry continues to evolve with regulatory changes and shifting consumer preferences, Lexus India's price reduction strategy demonstrates the brand's commitment to adapting to market conditions and maintaining its appeal in the luxury segment.
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