Maruti Suzuki, Bajaj Auto, Mahindra rule out auto price reduction despite corporate tax cuts
Updated : September 24, 2019 06:33 AM IST
The new tax regime will reduce Maruti Suzuki’s effective tax rate to 25.2 percent from the earlier 28.3 percent, while Bajaj Auto will also be paying at 25.2 percent from the 30.3 percent it paid earlier
Maruti Suzuki Chairman RC Bhargava on Monday said tax saving after Sitharaman’s announcement is miniscule and not sufficient for India’s largest carmaker to reduce the cost of its offerings.
Mahindra and Mahindra Managing Director Pawan Goenka said transferring the entirety of tax benefit to the consumer will amount to a mere Rs 3,000 discount on a vehicle priced at Rs 8 lakh.
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