Hyundai Motor India on Sunday announced it has slashed prices of its entire model range by up to ₹2.4 lakh to pass on the GST rate cut benefit to customers after a major overhaul in the Goods and Services Tax (GST) system.
The GST Council, in a meeting last week, announced a rejig of the tax system by which only two of the four tax tiers have been retained – the 5 per cent and the 18 per cent tax slabs. There is an additional 40 per cent slot for a few luxury items.
Cars under 1500 cc and 4000 mm bracket have been put in the 18 per cent slab from the previous 28 per cent tax category.
As a result, Hyundai India said the price cut ranging between ₹60,640 on Verna to ₹2.4 lakh on premium SUV Tucson will be applicable from September 22.
Also Read: GST effect: Mahindra, Toyota slash prices
"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, Hyundai Motor India, stated.
In a separate statement, Tata Motors said it will pass on the full benefit of the GST reduction on its entire commercial vehicle range to customers, effective September 22, 2025, when the revised rates come into effect.
The Mumbai-based auto major said prices of CV range would come down in the range of ₹30,000 to ₹4.65 lakh.
The company has already announced a price cut in its passenger vehicle portfolio.
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