Hyundai has announced its latest prices post announcement by the government to increase cess on medium and large cars, including luxury cars and SUVs. In its official statement, Hyundai stated that it has increased prices of its top models by as much as INR 84,867. The price hike is effective from 11th September.
FYI, the government had recently increased cess on medium, large and luxury cars. The recent hike on cess increased the effective tax rate to up to 50% on such vehicles. Cars are already taxed at 28%, the highest GST rate and on top of that, medium, large and luxury cars do attract cess ranging from 15% to 22%.
Hyundai Motors India Limited (HMIL) has increased prices of all the models under the above-specified categories. The prices of its Elite i20 (1.4-litre petrol engine) has been increased by INR 12,547. New on road price of Hyundai Verna is revised upwards by INR 29,090. Creta, one of the largest selling SUV currently, will get expensive by INR 20,900 to INR 55,375.
Talking of hike in other models, Elantra will see prices going up by INR 50,312 to INR 75,991 and Tuscon will get expensive by INR 64,828 to INR 84,867.