Close on the heels of bike manufacturers like Honda and Hero MotoCorp announcing that they will give their customers the benefit of the excise duty cut, car manufacturers like Hyundai are doing the same. Hyundai Motor India Ltd. has announced that it will pass on the full excise tax benefit to customers in India. The price deduction benefit will be applicable to all the models from Eon to Santa Fe. The new prices across all the models would come into effect from February 18, 2014.
Hyundai currently sells ten car models across different segments in the Indian market. It has the Eon, Santro, i10, Grand, the i20, Verna, Xcent, Elantra, Sonata and the Santa Fe. This price reduction, after the hike that came in January 2014, should be more than welcome to the customers.
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 and will also support its dealerships suitably.”