Volvo Car India Slashes Prices by Up to ₹6.9 Lakh Following GST Rationalization
Volvo Car India has announced significant price reductions across its ICE vehicle lineup, effective September 22. The XC60 model sees a ₹4.79 lakh cut, now priced at ₹67.11 lakh, while the XC90 receives a ₹6.93 lakh reduction, bringing its price to ₹96.97 lakh. These cuts are in response to recent GST rationalization. While electric vehicle prices remain unchanged, they will be included in festive offers. Volvo has also launched a 'Double Festive Delight' scheme combining GST benefits with additional promotions.
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Volvo Car India has announced significant price reductions across its internal combustion engine (ICE) vehicle lineup, with cuts of up to ₹6.9 lakh. The price adjustments, effective from September 22, come in response to the recent GST rationalization approved by the GST Council.
Key Price Reductions
The luxury automaker has implemented substantial price cuts on its popular models:
| Model | Price Reduction | Previous Price | New Price |
|---|---|---|---|
| Volvo XC60 | ₹4.79 | ₹71.90 | ₹67.11 |
| Volvo XC90 | ₹6.93 | ₹104.00 | ₹96.97 |
These reductions are a direct result of the GST Council's decision to simplify the tax structure by replacing multiple higher tax slabs with a more streamlined system.
Impact on Electric Vehicles and Festive Offers
While the prices of Volvo's battery electric vehicles remain unchanged, the company has confirmed that these models will be included in festive offers. To capitalize on the GST benefits and enhance customer appeal, Volvo Car India has launched its 'Double Festive Delight' scheme, which combines the GST-related price reductions with additional promotional offers.
Company's Perspective
Jyoti Malhotra, Managing Director of Volvo Car India, commented on the initiative, stating that it aims to make luxury mobility more accessible to Indian consumers. The company views this move as an opportunity to reinforce confidence in the growth potential of India's luxury automotive segment.
Market Implications
This significant price reduction by Volvo Car India could potentially shake up the luxury car market in India. By making their vehicles more affordable, Volvo is positioning itself to attract a broader customer base and potentially increase its market share in the competitive luxury automobile sector.
The move also reflects the positive impact of the government's GST rationalization efforts on the automotive industry, potentially paving the way for other luxury carmakers to consider similar price adjustments.
As the festive season approaches, Volvo's price cuts and additional offers are likely to generate increased interest among potential buyers, possibly leading to a boost in sales for the Swedish automaker in the Indian market.
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