Auto stocks and carmakers are shifting gears after Prime Minister Narendra Modi’s Independence Day proposal for a simplified two-slab GST structure turned into reality. The GST Council, on September 3, collapsed the earlier four slabs (5%, 12%, 18%, and 28%) into just two — 5% and 18% — with automobiles emerging as a big beneficiary of the move.
BMW-owned Mini Cooper has already rolled out revised prices across its range in India. According to the company’s new price list, effective post-GST rationalisation:
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Essential Pack: reduced from ₹46.20 lakh to ₹43.70 lakh
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Classic Pack: reduced from ₹51.95 lakh to ₹49.20 lakh
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Favoured Pack: reduced from ₹55.00 lakh to ₹52.00 lakh
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JCW Pack: reduced from ₹57.50 lakh to ₹54.50 lakh
The cuts translate into savings of up to ₹3 lakh for customers, depending on the variant.
With the GST change expected to boost demand across the automobile sector, auto stocks have been rallying on the bourses. Market experts believe this price rationalisation could provide further tailwinds to sales ahead of the festive season.
