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GST impact: Hyundai announces price hike, others may follow suit

By Newsd
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GST impact: Hyundai announces price hike, others may follow suit
Image: drivespark

Hyundai India has declared a price hike owing to the recent change in the GST structure for cars and it would be effective from 11 September, 2017. A 2-5 per cent raise could be seen in the prices of Hyundai Elite i20, Verna, Elantra and Tucson. But, the Hyundai Grand i10, Eon and Xcent prices remained the same.

While price of the Hyundai Elite i20 had been increased by Rs 12,457 on the 1.4-litre petrol automatic variant, newly launched Verna’s price has been augmented by Rs 29,090. The hike for the Hyundai Creta’s prices range between Rs 20,900-55,375.

The company criticized at the frequent changes in tax rates on automobiles by GST council, saying it will impact investment. Hyundai Elantra’s prices have now augmented by Rs 50,312 – 75,991 and the Hyundai Tucson’s by Rs 64,828 – 84,867.

It is likely that other manufacturers too will declare a price hike in the coming days. The GST council decided to levy an extra 2 to 7% cess on mid-sized and luxury cars including SUVs earlier this month.

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