Hyundai Reduces Car Prices by Up to Rs 2.4 Lakh as GST Benefits are Passed On

Hyundai Motor India is set to reduce prices across its passenger vehicle lineup. This strategic move follows recent GST reforms, with the intention of extending the full benefit to customers. The new pricing will be effective from September 22, aligning with the festive season. Customers can expect price cuts of up to Rs 2.4 lakh on various Hyundai models. The Tucson will see the most significant price decrease, with a reduction of Rs 2,40,303. Other vehicles such as the Grand i10 Nios, Aura, Exter, i20, Venue, Verna, Creta, and Alcazar will also become more affordable, with price reductions varying from approximately Rs 60,000 to over Rs 1.2 lakh. The GST reforms, announced at the 56th GST Council meeting, will see the GST on small cars (vehicles under four meters with petrol engines up to 1,200cc or diesel engines up to 1,500cc) reduced from 28% to 18%. The GST rate for larger cars with bigger engines will now be a standard 40% without the previous additional cess. Hyundai believes these price adjustments will enhance customer sentiment and contribute to increased sales during the festive period.