Honda Motorcycle & Scooter India (HMSI) will soon see the price of their two-wheelers up to 350cc slashed by as much as Rs 18,800, thanks to the latest GST reforms.
HMSI, in a statement, said that the two-wheeler maker would pass on the full benefits of the recent GST rate reduction to its customers across its product portfolio—including both scooters and motorcycles up to 350cc.
Later this month, the GST Council's decision to reduce GST on two-wheelers from 28 to 18 per cent will come into effect. This meant that HMSI would see ex-showroom prices cut by up to Rs 18,800, depending on the model, the company said.
"The reduction in GST on two-wheelers and spare parts is a timely and forward-looking step, making vehicles more affordable and strengthening the overall ecosystem," said Yogesh Mathur of HMSI.
Yesterday, Indian muscle motorcycle maker Royal Enfield also announced a cut in the price of its 350cc bike range by up to Rs 22,000 from September 22.
India's largest two-wheeler maker Hero MotoCorp also announced in a regulatory filing that it would reduce the prices of its various models by up to Rs 15,743. TVS, too, announced cuts to prices in its portfolio.
India's two-wheeler auto market expects the new GST 2.0 reforms to boost consumption, given the slump in demand since the pandemic.
