Following the updated GST tax slab, here is the latest bunch of car makers to announce price hikes.
Following the announcement from the GST Council hiking taxes on cars with engines larger than 1.5 litres, longer than 4 meters in length and having a ground clearance of 170mm or more, car makers across the board have been announcing a hike in new car prices for models affected by the tax slab revision.
The latest car makers to announce price hikes on this account are Jeep, Fiat and Hyundai. With the launch of its all-new Compass at rather attractive prices ranging between Rs. 14.95 lakh to Rs. 20.65 lakh (ex-showroom Delhi), Jeep got everybody’s attention. The recent GST revision now sees a price hike between Rs. 21,000 to Rs. 72,000 for the Compass which is manufactured in India. For Jeep India’s imported model range which includes models such as the Wrangler and Grand Cherokee, prices have gone up from Rs. 2.74 to Rs. 6.4 lakh depending on the model.
Fiat too has hiked prices for its Linea and Punto model line-up by anywhere between Rs. 9,000 to Rs. 14,000.
India’s second largest car maker Hyundai too has raised prices for select models affected by the Tax slabs. Prices for the new Hyundai Verna have gone up by up to Rs. 29,000. The hot-selling Creta has become dearer by Rs. 20,900 to Rs. 55,375. Prices for the Elantra have gone up by Rs. 50,312 to Rs. 75,991. Meanwhile, the Tucson bears a price hike ranging between Rs. 64,828 to Rs. 84,867. The i20 petrol automatic which is powered by a 1.4 litre engine has also become dearer by Rs. 12,547.