Two-wheeler major TVS reduces prices post GST

In order to pass down the benefits of goods and services tax (GST) to the end users, two-wheeler major TVS Motor Company has slashed prices of its models by up to Rs 4,150.



"The price reduction is in the range of Rs 350 to Rs 1,500 in the commuter segment. In the premium segment products, the prices are reduced up to Rs 4,150 depending on each state," said a statement from the motor company.

It added that dealers will be provided with required assistance on the opening stock as on July 1, 2017, that they had purchased at a pre-GST price.

Dealing in a range of categories like scooters, motorcycles, mopeds and three wheelers, TVS recently partnered with Abans Auto of Sri Lanka, after which it would be able to export TVS King to the Sri-Lankan market.

For the quarter ended March 31, 2017, TVS had registered a net profit of Rs 126.77 crore, a 6.80% decline when compared to Rs 136.03 crore in the corresponding quarter last year.

Another leading motor maker Hero MotoCorp has announced a reduction in prices by up to Rs 1,800 after GST, following several other automakers like Maruti Suzuki, Toyota and Jaguar Land Rover.


(Image source RushLane)