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Hyundai to cut prices on cars by up to ₹2.4 lakh; Creta, Alcazar among cars to get cheaper
Hyundai Motor India on Sunday announced reducing prices of its cars by up to ₹2.4 lakh to pass on the GST rate cut benefits to customers.
Hyundai Motor India on Sunday announced reducing prices of its cars by up to ₹2.4 lakh to pass on the GST rate cut benefits to customers.
The move comes after several automobile manufacturers, including Tata, Mahindra and Renault India, announced price cuts following GST rationalisation earlier this week.
Hyundai has announced price cut for most of its models, ranging from Verna, which will see a price drop of ₹60,640, to Tucson and Venue, where the price cut would be ₹2,40,303 and ₹1,23,659, respectively. Other models, including i20, Alcazar and Creta will also see significant price cut.
Also Read: New GST rates on all cars in India, from Alto to Mahindra Thar and Tata Nexon
The GST Council earlier this week decided to reduce the tax on passenger vehicles to 18 per cent from 28 per cent. The new tax rate will come into effect from September 22.
"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," Unsoo Kim, Managing Director of Hyundai Motor India, said in a statement.
The revised price on the Hyundai cars are as follows:
- Grand i 10 Nios- ₹73,808
- Aura- ₹78,465
- Exter- ₹89,209
- i20- ₹98,053
- i20 N Line- ₹1,08,116
- Venue- ₹1,23,659
- Venue N Line- ₹1,19,390
- Verna- ₹60,640
- Creta- ₹72,145
- Creta N Line- ₹71,762
- Alcazar- ₹75,376
- Tucson- ₹2,40,303
The revised prices would be applicable from September 22, when the GST 2.0 comes into effect.
Tata Motors on Friday announced cutting the price of cars by up to ₹1.45 lakh to pass on the benefit of GST reduction to customers. While the biggest cut was seen in the price of Harrier and Safari by ₹ ₹1,40,000 and ₹1,45,000 respectively, the lowest cut was made on Tiago and Tigor by ₹74,000 and 80,000 respectively.
Mahindra & Mahindra Ltd has also reduced the price on its cars by up to ₹1.6 lakh, starting September 6. While the biggest cut was made on XUV3XO of up to ₹1.56 lakh, the lowest cut of ₹1.01 lakh was made on THAR 4WD.
