The General Sales Tax (GST) increase has kicked off another price hike saga as, after Kia, Peugeot has also increased the prices of 2008 SUV by up to Rs. 430,000.
Effective immediately, the prices of both 2008 variants are as follows:
|Models||Old Price (Rs.)||New Price (Rs.)||Increase (Rs.)|
|Peugeot 2008 Active||6,450,000||6,840,000||390,000|
|Peugeot 2008 Allure||7,150,000||7,580,000||430,000|
It bears mentioning that prior notion suggested that some crossover SUVs with engines smaller than 1400CC may be exempt from the GST hike.
Cognizant of that, the government specifically outlined in the official circular that all SUVs and crossovers are subject to 25% GST regardless of engine size. Hence, despite having an engine that is smaller than 1400CC, Peugeot 2008 became subject to a major price hike.
Previously, the government had increased GST on all cars from 17% to 18%, which prompted a wave of price hikes. After the tax hike from 18% to 25%, cars with 1400CC engines or larger will fall prey to a new price hike wave.