Scorpio, Thar & XUV700 See Rs. 1.56 Cuts Even Before the Implementation of New GST Reform

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On Saturday, Mahindra & Mahindra, a flagship company operating under the parent company, Mahindra Group, announced a price reduction of up to Rs. 1.56 lakh on its popular car models, such as the XUV700, Thar, and Scorpio. These price deductions come after the revelation of GST 2.0, scheduled to be implemented from 22 September.

Anand Mahindra on the Earlier Implementation of New GST Rules

Mahindra & Mahindra decided to cut prices on some of its car models as soon as the Goods and Services Tax (GST) structure was cleared at the 56th GST council. 

Amidst this, Mahindra capitalized on this opportunity and made a bold move to reduce the prices of some of the popular Mahindra car models. The deals are open to the public from 6 September across all physical stores and digital platforms. 

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Anand Mahindra, Chairman of Mahindra Group, recently on X (previously Twitter), has shared the confirmation of this early enactment, saying, “Action. Not just promises. Thank you, Team @Mahindra_Auto.” Also, he uploaded an image stating, “Everyone said 22nd September, we said NOW.”

Effect of GST 2.0 on the Price of Different Vehicle Models at M&M

The popular Mahindra Thar SUV has seen significant price drops. It comes in two diesel-engine models: Thar 2WD and Thar 4WD. The price of the 2WD variant has been reduced by Rs. 1.35 lakh, whereas the 4WD’s price is cut down by Rs. 1.01 lakh. 

Similarly, the Scorpio Classic model has seen a price drop of Rs. 1.01 lakh, and the Scorpio-N has seen a price drop of Rs. 1.45 lakh. Furthermore, the Mahindra XUV700 has seen a price reduction of Rs. 75,000.

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Crisil Intelligence says that GST 2.0 will make ICE vehicles more affordable. It has been estimated that the price of vehicle categories that belong to Wagon R, Swift, and Dzire are expected to reduce by 8.5%. On the other hand, larger SUVs will see an overall 3.5% reduction in their prices.