Performance and luxury car buyers had to earlier shell out 20% of the ex-showroom prices of the vehicle as road tax while folks in Mumbai had to pay another 4.5% of the ex-showroom price as Octroi. However, the new road tax caps the maximum amount at INR 20 lakh while the Octroi is no longer in effect which has resulted in massive fall in prices of performance and luxury cars.
So, in effect, a Lamborghini Aventador, which carries an ex-showroom price tag of INR 5.01 crore will now be sold for INR 5.21 crore (OTR) instead of INR 6.23 crore (OTR) before insurance. The Lamborghini Huracan, which is sold at an ex-showroom tag of INR 2.99 crore, will now be available at INR 3.19 crore (OTR) instead of INR 3.72 crore (OTR) before insurance.
The prices mentioned above are the existing ex-showroom values. The post-GST prices are likely to go up by a small margin but with the new road tax in effect, the final on-road prices would still be far less than the before. The post-GST prices will be available in a few days and we’d be bringing you the complete list from the manufacturers as and when we receive them.
Meanwhile, let us know your views about the fall in prices of performance and luxury car through the comments section below.