GST rate cuts on cars: Hyundai, Tata Motors slash prices; customers to save lakhs from September 22

Auto giants Hyundai Motor India and Tata Motors on Sunday announced major price reductions across their vehicle ranges, passing on the benefits of the recent Goods and Services Tax (GST) cuts to customers. Hyundai has slashed prices of its entire model lineup by up to Rs 2.4 lakh, while Tata Motors is reducing prices of its commercial vehicles by up to Rs 4.65 lakh.Hyundai’s price cuts, ranging from Rs 60,640 for the Verna to Rs 2.4 lakh for the premium SUV Tucson, will take effect from September 22, the day the revised GST rates come into force. The carmaker said buyers will save between Rs 73,808 and Rs 2.4 lakh depending on the variant chosen this festive season."This reform is not only a boost to the automotive industry but also a strong step towards empowering millions of customers by making personal mobility more affordable and accessible," said Unsoo Kim, managing director, Hyundai Motor India."We sincerely appreciate the progressive and far-sighted move by the Government of India to reduce GST on passenger vehicles,” he told PTI.Meanwhile, Tata Motors also confirmed passing on the full GST reduction to customers across its entire commercial vehicle range from September 22, with prices falling between Rs 30,000 and Rs 4.65 lakh. The company had already announced a price cut in its passenger vehicle portfolio.The GST reform, part of the government’s next-generation rationalisation announced on September 3, is expected to benefit the automobile sector, one of India’s largest economic contributors.Under the new structure:All revised rates will come into effect on September 22, the first day of Navratri. The GST reforms were announced on September 3, shortly after Prime Minister Narendra Modi flagged them during his Independence Day address from the Red Fort.The automobile sector, one of the largest contributors to the Indian economy, is expected to benefit significantly from the changes.