Hyundai Cuts Prices by up to ₹2.4 Lakh, Commits to Passing Full GST Reduction Benefits on to Buyers

Hyundai Motor India has joined Tata Motors, Toyota Kirloskar, Škoda Auto India, Mercedes-Benz India, Renault India, Mahindra & Mahindra, and other companies in announcing new, lower prices for its cars thanks to the recently introduced GST 2.0 regime which cuts the tax payable on the purchase of nearly all types of passenger vehicles. The company, like its peers, has committed to passing all savings on to its customers.

Anyone interested in buying a Hyundai car can save up to ₹2,40,303. The newly reduced prices will be effective as of September 22. The move to reduce GST is expected to encourage spending and give India's economy a considerable boost, particularly during the festive season. 

Following the company's initial positive reaction to the GST rate cut announcement, Hyundai Motor India Ltd Managing Director Unsoo Kim said in a press statement, "We sincerely appreciate the progressive and far-sighted move by the Government of India to reduce GST on passenger vehicles. 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."

The benefits vary based on the new GST structure's categorisations of car price, engine capacity and body style, with reductions starting at ₹60,640 for the Verna compact sedan and going up to ₹2,40,303 for the Tucson mid-sized SUV. Notably absent from the list are Hyundai's electric models, the Ioniq 5 and Creta Electric, which have not been affected by the new policy. 

In an earlier statement, Kim had noted that 60 percent of Hyundai's ICE portfolio in India would be subject to a lower 18 percent GST slab, while the rest would come into the new 40 percent bracket but still benefit from the elimination of the compensation cess.

The complete list of price cuts is as follows: