Significant Price Drops on Hyundai Vehicles Due to GST Reforms

Hyundai Motor India is implementing price reductions across its passenger vehicle range, transferring the advantages of the recent GST reforms to consumers. The price cuts, effective from September 22, will coincide with the festive season, offering savings of up to Rs 2.4 lakh. The Hyundai Tucson will experience the most substantial price drop, with a decrease of Rs 2,40,303. Other popular models like the Grand i10 Nios, Aura, Exter, i20, Venue, Verna, Creta, and Alcazar will also see price reductions, ranging from approximately Rs 60,000 to over Rs 1.2 lakh. These reforms, stemming from the 56th GST Council meeting, reduce the GST on small cars (defined as vehicles under four meters with petrol engines up to 1,200cc or diesel engines up to 1,500cc) to 18% from 28%. Larger cars with larger engines will now be subject to a 40% GST rate, without the previously applicable additional cess. Hyundai anticipates that this new pricing structure will increase customer interest and drive sales during the festive season.