GST 2.0 impact: Hyundai records 11,000 dealer billings on day 1 of Navaratri, best single day show in 5 years

The Creta has seen a handsome price reduction of up to Rs 72,145.

Hyundai Motor India today announced that it recorded 11,000 dealer billings on September 22, the first day of the nine-day Navaratri festival, coinciding with the rollout of the Goods and Services Tax (GST) 2.0 regime. This marks the carmaker's best single-day performance in the past five years.

The company currently offers a couple of electric vehicles (EVs) -- Creta Electric and Ioniq 5. It has 12 internal combustion engine (ICE) models -- Grand i10 Nios, i20, i20 N Line, Aura, Verna, Exter, Venue, Venue N Line, Creta, Creta N Line, Alcazar and Tucson.

Hyundai has reduced prices across its line-up following the GST rate revision, with benefits ranging from around Rs 60,640 to Rs 2,40,303 depending on the model.

The most significant cut comes on the Tucson SUV, which is now cheaper by up to Rs 2,40,303. The Creta, Hyundai's highest-selling SUV, has also seen a handsome price reduction of up to Rs 72,145. The Venue, one of the brand's most popular compact SUVs, is now lower by about Rs 1,23,659. The price drop on the entry-level SUV, Exter, is up to Rs 89,209.

Among sedans, the Verna sees a price drop of up to Rs 60,640 and the Aura of up to Rs 78,465. In the hatchback space, the i20 has become more affordable by as much as Rs 98,053, while the performance-oriented i20 N Line is cheaper by Rs 1,08,116. The Grand i10 Nios, Hyundai's entry hatchback, gets a price cut of up to Rs 73,808.

"The auspicious start of Navaratri, amplified by the momentum from GST 2.0 reforms, has infused strong positivity into the market. On day 1 alone, Hyundai Motor India recorded around 11,000 dealer billings, which is our highest single-day performance in the last five years," the company's Whole-Time Director and COO Tarun Garg said.

"This is a clear testament to robust festive sentiment and customer confidence. As one of the first automobile companies to fully pass on the full GST benefits to customers, we are delighted to make our customers' celebrations even more joyful. Looking ahead, we anticipate sustained festive demand and remain committed to delivering value and excitement to our customers," he added.

In the GST 2.0 regime, relatively smaller cars are in the 18% slab, while the larger and luxury models are in the 40% slab. The compensation cess has been removed.

Earlier, cars attracted a GST of 28% along with a compensation cess in the range of 1% to 22%, resulting in a total tax incidence of 29% to 50%, depending on the length, body style and engine capacity.