Hyundai announces price reductions across its entire vehicle lineup, including the Grand i10 and Creta models now offered at more affordable prices.
Hyundai Motor India has announced price reductions on several of its non-electric vehicle models, effective from September 22, 2023. The move is expected to provide a significant boost to the company's sales during the upcoming festive season.
The price cuts range from ₹60,640 for the Hyundai Verna to ₹240,303 for the Tucson. The entry-level Grand i10 Nios will see a reduction of ₹73,808, while the Hyundai Creta N Line will be cheaper by ₹71,762. The Aura, i20, and Exter will be priced lower by ₹78,465, ₹98,053, and ₹89,209, respectively. The Venue and Venue N Line will see price reductions of ₹123,659 and ₹119,390, respectively.
However, the price cut does not apply to Hyundai's electric vehicle lineup. The prices of Hyundai electric vehicles in India as of September 22, 2023, remain unaffected by any price reductions. The company has not announced any price cuts for its electric cars at this time.
The GST Council, which is responsible for setting the goods and services tax (GST) rates in India, has kept the GST rates for electric cars unchanged. This decision may be a factor in the overall sales strategy for Hyundai's electric vehicle lineup. The GST Council has also reduced the total tax incidence of all passenger vehicles under the new GST regime.
The decision not to reduce GST rates for electric cars may impact the sales of Hyundai electric vehicles. However, the price cuts on non-electric Hyundai cars may encourage potential buyers to consider purchasing these vehicles. The revised pricing of the vehicles will also be effective from September 22.
Hyundai is optimistic about its sales performance during the upcoming festive season. The company expects the price cuts on non-electric vehicles to attract more customers and boost sales during this period.
