The automotive industry expected a solid start to the festive season. It is because of GST 2.0 reforms. Automakers are seeing their expectations met, with manufacturers reporting increased sales. Hyundai, a leading OEM in India, stated that it sold 11,000 units on Monday. This day marked the first day of Navratri and the implementation of lower GST rates on cars.
Hyundai hit 11,000 units sales on Day 1 of Navratri
Tarun Garg, Whole-Time Director and COO of HMIL, commented on this development. He said, “The fortunate start of Navratri, combined with the momentum from GST 2.0 reforms, has brought strong positivity to the market. On Day 1 alone, Hyundai Motor India Limited recorded around 11,000 dealer billings, our highest single-day performance in the last five years.”
He added, “As one of the first car companies to fully pass on the GST benefits to our customers, we are pleased to make their celebrations even more enjoyable. Looking ahead, we expect continued festive demand and remain dedicated to providing value and excitement to our customers.”
GST reduction on small cars, SUVs and more
Monday also marked the beginning of Navratri, following the end of the 16-day Shradh period when people usually avoid making new purchases. The time from the end of Shradh to Diwali is considered the main festival season. Additionally, on Monday, the long-awaited reduction of GST on small cars and SUVs from 28 % to 18 % took effect.
All major passenger car manufacturers reported that they would fully pass on the benefits of the GST reduction. Many, including Hyundai, offered extra discounts beyond the reduced GST rates to boost sales. The South Korean carmaker also launched special editions of its vehicles to attract buyers.
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