Hyundai cars get cheaper by upto Rs. 1.35 lakh

Right after Finance Minister P. Chidambaram announced an excise cut on cars and two-wheelers, almost all the automakers passed on the excise duty benefit to customers. Hyundai Motor India too has announced to pass on the full reduction of excise tax benefit to customers in India. The price cut will be applicable to all the Hyundai models, starting from Eon to newly launched Santa Fe. (Read about 2014 Santa Fe)

Commenting on the passing of the benefit of reduction of Excise Duty to the Customers, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing, HMIL said, "The reduction in Excise Duty would substantially reduce the prices, making cars more affordable. The quantum of benefit will vary from Rs. 10,000/- to Rs. 1,35,300/- across all the models. Hyundai Motor India Ltd will extend the benefit of these excise duty cuts to customers with immediate effect & will also support its dealerships suitably."

The prices of the cars have come down from Rs 10,000 to Rs 1,35,000, depending on the model. The new prices across all the models have come into effect immediately. Now when the Indian automobile industry has been inspecting new lows, the cut in excise duty has come as a great relief for the automakers. They are seeing it as a great opportunity to scale up their sales.

Excise duty for small cars has come down to 8 percent from 12 percent, while for SUVs, it is 24% now as against 30% charged earlier. Excise duty on two-wheelers and medium cars too has comedown to 8 percent and 20 percent, respectively.