Hyundai reduces prices after GST rate cut; i20, Verna, Venue, Creta, Tucson prices down by up to Rs 2.4 lakh

The Creta will also see its prices dropping.

Hyundai Motor India today announced that it will pass on the complete benefit of the recent Goods and Services Tax (GST) rate reduction on passenger vehicles (PVs) to its customers, slashing the prices by up to Rs 2.4 lakh.

The new prices will become effective on September 22, the date the revised GST rates come into effect.

"We sincerely appreciate the progressive and far-sighted move by the government of India to reduce GST on PVs. This reform is not only a boost to the automotive industry but also a strong step towards empowering millions of customers by making personal mobility more affordable and accessible," said Unsoo Kim, Managing Director, Hyundai Motor India.

"As India moves forward on the path of Viksit Bharat, Hyundai remains committed to aligning with the nation's growth ambitions by ensuring our cars and SUVs continue to deliver value, innovation and joy of driving," he added.

The price reduction will be on the internal combustion engine (ICE) models, which are now based in the 18% GST slab and the 40% GST slab. Earlier, such models attracted a total tax in the range of 29% to 50% (28% GST + 1% to 22% compensation cess).

Among all the Hyundai cars, the lowest price cut will be on the Verna at Rs 60,640. The Tucson will see the biggest price drop of up to Rs 2,40,303.

HYUNDAI CAR PRICE REDUCTION

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The Creta and the Creta N Line prices will drop in the range of Rs 71,762 to Rs 72,145. The Alcazar's price will decrease by Rs 75,376, while, as mentioned earlier, the Tucson will see a price cut of Rs 2,40,303.

Source - Hyundai

Apart from Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motor, Renault India, and Skoda Auto India have also passed on the GST benefit to the customers in the form of price reduction. Among the luxury carmakers, Mercedes-Benz India and BMW Group India have also followed suit.