JLR announces price d of up to 11 lakh to customers with immediate effect on select stock due to the soon-arriving GST
Jaguar Land Rover India has announced today that the implementation of GST (Goods and Service Tax) for the luxury vehicles will have significant effect on its product pricing across the board. The new tax structure in GST will come into effect from July 1 onwards and it will result in estimated price reduction of up to 12 percent that would vary from model-to-model basis. JLR has mentioned in a press statement that the benefits of new tax law will be will be passed onto the customers with immediate effect on select stock of vehicles.
Jaguar Land Rover currently makes five name plates in India which includes two from Land Rover. Three Jaguar name-plates include the XE, XF and XJ while the two Land Rovers are the Discovery Sport and Range Rover Evoque. It is important to be noted that on select stock, Jaguar Land Rover has decided to give the benefits to its customers prior to the 1st July when new GST taxes comes into effect.
The benefits will range between Rs. 2 lakh and Rs. 5.7 lakh for the Jaguar XE sedan while the bigger XJ will see from Rs. 4 lakh to a massive Rs. 10.9 lakh reduction in prices across its variants. As for the Land Rover vehicles, the Discovery Sport as well as the Range Rover Evoque will witness prices being cut down between Rs. 3.3 lakh and Rs. 7.5 lakh.
Under the GST tax structure, automobiles attract 28 percent tax with cess in 1 to 15 percent range based on length and engine of the vehicle. Petrol cars measuring below four metres and with engine capacity, less than 1,200 cc gets 1 percent cess and diesel cars below 1,500cc attracts 3 percent cess.
Bigger vehicles with engine displacements above 1,500 cc and length in excess of 4 metres will be subjected to 15 percent cess. Brands like Ford, Mercedes, Audi and BMW have reacted in the wake of GST to pass on the benefits to customers.