Hyundai: The dream of buying this Diwali car is going to be easier! The government is planning to reduce GST on cars, which will make Hyundai’s popular vehicles such as Creta, Venue and Exter more economical. If GST decreases from 28% to 18%, buyers will have a direct savings of thousands of rupees. This can be a golden opportunity especially for middle-class families who want to buy their dream cars.
Currently, cars are charged 28% GST and 1% cess, ie a total of 29% tax. For example, if a car’s factory price is ₹ 5 lakh, then after tax its price increases to about ₹ 6.45 lakh. But if GST is 18% and 1% cess, the total tax will be reduced to 19%. In this situation, the same car will be available for around ₹ 5.90 lakh. That is, customers will save ₹ 55,000 directly.
Hyundai customers can get great relief when GST is cut. For example, Hyundai Grand i10 NIOS, which has an existing ex-showroom price ₹ 5,98,300, can be around ₹ 59,830 cheaper. Similarly, the Hyundai Exter, which is priced ₹ 5,99,900, can be about ₹ 59,990 cheaper after the GST cut. These savings can prove to be a game-changer for middle-class buyers.
Hyundai Venue, which is India’s best-selling compact SUV, is an ex-showroom price of ₹ 7,94,100. It is taxed at ₹ 2,30,288 with the current 29% tax. If the tax decreases to 19%, then this amount will be reduced to ₹ 1,50,879. That is, buyers will save about ₹ 79,409. With so much savings, Venue will become more powerful choice in this segment.
Hyundai Creta is the best -selling SUV in India and is one of the bestsellers in Hyundai. Its base ex-showroom price is ₹ 11,10,900. It is currently taxed at around ₹ 3,22,161. This tax will be reduced to ₹ 2,11,071 when GST is reduced. That is, CRETA buyers will have a direct savings of about ₹ 1,11,090. This can be a great deal for SUV lovers.
VERNA and i20 can also take advantage of GST cuts. VERNA, whose current price is ₹ 11,07,400, can be about ₹ 1,10,740 cheaper when GST is reduced. At the same time, the i20, which has an initial price ₹ 7,50,900, can be about ₹ 75,089 cheaper. These vehicles will become even more attractive for buyers seeking style and performance.
Hyundai’s large SUVs will also benefit from GST cut. Alcazar, which is priced ₹ 14,99,000, can be about ₹ 1,49,899 cheaper. At the same time, Tucson, which has the current price of ₹ 29,26,800, can be about ₹ 2,92,679 cheap when GST is reduced. Such a big savings clearly show the impact of this policy.
