The price has been lowered from Rs 4.89 million to Rs 3.90 million. According to an official at Laxmi Hyundai, the decision to lower price was taken by a three-member Valuation and Review Division under Department of Customs and that the distributor had nothing to do with the price revision. [break]
“The previous price was only the temporary price and now we have got it revalued. We will compensate the customers, who recently bought the SUV, through different ways like providing additional after sales services,” the official added.
The car was first imported at the price of $9,000. But the Valuation and Review Division had increased its import price to $18,000, following appeal from the authorized distributor, which raised the local price to Rs 4.89 million.
After fresh appeals by the distributor, the Valuation and Review Division has now fixed the valuation at $15,400 to $16,900 for different options of the car available. This caused the price of the car to go down by about a million rupees.
Laxmi Hyundai is still appealing to the Revenue Tribunal for the correct valuation of the car, which according to them is $13,500. Importers need 206 percent of the import price as tax, including custom duty, exercise duty and VAT, among others.
The SUV has 2 liter diesel engine. The car has features like airbags, anti-lock braking system, electronic stability program and active head rest. Laxmi Hyundai has been offering 12 free servicing within three years and a warranty of three years or 60,000 km whichever comes first.
The price of other cars from the Hyundai stable like Santro, i10, i20, Getz, Accent, Sonata and Santa-Fe remains unchanged.
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