The TPS reduces prices of oblique bar cars to 1.55 Lakh. Here is what Tata and Maruti offer
The main Indian car manufacturers have started to transmit the advantages of recent declines in TPS tariffs directly to customers. Tata Motors has announced price discounts up to 1.55 lakh on several models, while Mahindra and Mahindra have declared that he would also extend the full advantage to buyers.
The announcement one day after the president of Maruti Suzuki India, RC Bhargava, confirmed that the company would also reduce prices in accordance with the revised tax structure. “With the latest reduction in TPS, we plan that the small car market, which was moving, will now increase this year by more than 10%,” said Bhargava.
He added that Maruti’s viola could see a drop in price from 40,000 to 50,000 ₹, while the W wagon could become 60,000 ₹ at 67,000 ₹ cheaper.
The TPS Council decision to rationalize tax rates marks the most important revision of the automotive industry over the years. The tax on small cars (less than 4 meters in length, with motors less than 1200 cc for petrol and 1500cc for diesel) was reduced to 18%, down compared to the range of 29 to 31% previous, including the CESS. For larger cars – those exceeding 4 meters in length, more than 1500 cm3, or the release of the 170 mm soil – the total tax has been reduced to 40%, compared to 48 to 50%.
Tata Motors has published a list of price reduction per model, showing the savings of:
- 75,000 ₹ on the tiago
- 1.10 Lakh on the Altroz
- 85,000 ₹ on punch
- 1.55 Lakh on the Nexon
- 1.40 Lakh on the Harrier
- 1.45 Lakh on the safari
Other models such as the Tigor and Curvv will also see price reductions. The company noted that the exact discounts can vary depending on the variants and have urged customers to be confirmed with authorized exhibition halls.
“This TPS reduction is timely,” said Shailesh Chandra, MD of Tata Motors Vehicles and Tata Passenger Electric Mobility in a report. “We transmit all the benefit to the customer.”
Meanwhile, motorcycles with engines less than 350cc will also see tax relief, now imposed at 18% instead of the previous 28%, providing additional relief to two -wheeled buyers.
