Following the GST rollout, Hyundai Motor India Ltd (HMIL) has increased prices of its various models. The prices of the cars by Hyundai Motor have been increased up to Rs 84,867. The move is as a result of the hike in GST cess rates. According to reports, the price hike will range from two to five percent. Hyundai Motor India Ltd has stated that the price hike will be effective from September 11.
These Hyundai Vehicles To Cost More In India
The second largest passenger car manufacturer in India, Hyundai Motor India Ltd has hiked the prices of its various cars in India. The development to increase the prices of the four-wheeler came into existence due to the increase in GST cess rates on mid-sized, large cars and Sports Utility Vehicles. According to reports, the GST cess rates on mid-sized cars has been increased to 2 percent, while GST cess rates on large cars has been increased to 5 per cent and GST cess rates on Sport Utility Vehicles has been increased to 7 percent.
These Hyundai cars to cost More
The company has stated that the 1.4 litre petrol automatic variant of its premium hatchback Elite i20 will get dearer by Rs 12,547.
Hyundai has also raised the prices of its newly launched mid-sized sedan Verna. The price of Verna has been increased by Rs 29,090.
The company has also increased the price of its SUV Creta and Tuscon. While The prices of its Creta variants have been hiked ranging between Rs 20,900 and Rs 55,375 depending on the variant, the price of its premium SUV Tuscon has been increased between Rs 64,828 and Rs 84,867.
Similarly, the automaker has also hiked the prices of its premium sedan Elantra. The increase on Hyundai’s premium sedan Elantra will range between Rs 50,312 and Rs 75,991.
Other companies that have increased the prices
In addition to Hyundai, Fiat Chrysler Automobiles (FCA), Honda Cars, and Toyota Kirloskar Motor (TKM) too has also announced hike in prices of its different models
Fiat Chrysler Automobiles has declared that the prices of its Jeep and Fiat range of vehicles will go by up to Rs 6.4 lakh.
Honda Cars India too announced an increase in prices of Honda City, Honda BR-V and Honda CR-V models. The increase in the prices will range between Rs 7,003 and Rs 89,069.
Toyota Kirloskar Motor (TKM) also announced hike in prices of select models. These models include Innova Crysta and Toyota’s premium SUV – Fortuner. The increase in prices of these cars would range from Rs 13,000 to Rs 1.6 lakh.