If you are planning to buy a vehicle this year, rejoice. Two and three-wheelers, cars, buses as well as four-wheelers will are likely to set you back by less.
Cars could be cheaper by Rs. 7,000 to Rs. 19,000, depending on the model and its variants. Two-wheelers would be cheaper by Rs. 2,000 to Rs. 5,000, industry experts said.
Car market leader Maruti Suzuki India Limited said it has passed on the full benefit of excise duty reduction to customers. The company has announced price reduction in all six models that qualify for the lower excise benefit: Maruti 800, Omni, Zen, Wagon R, Swift Diesel and Alto.
Hyundai said the company has decided to pass on the benefit of the excise duty cut to customers on three models, Santro, i10 and the Getz with immediate effect.
We will be cutting the prices of our small cars between Rs 7,500 and Rs 14,000, General Motors India vice-president P Balendran said.
Finance Minister P. Chidambaram has proposed that the excise duty on small cars, two, three wheelers, buses and their chassis is brought down to 12 per cent from 16 per cent, while in case of hybrid cars the duty will be lowered to 14 per cent from the current 24 per cent.
Small car is defined as one with petrol engine capacity upto 1.2 litres and diesel engine upto 1.4 litres and 4 metres length.
Honda Siel Cars India senior general manager G. Sen expressed disappointment that the gap in excise duty between small cars and big cars has been further widened, but exuded confidence that the reduction in excise duty on hybrid cars would enable the company to import hybrid vehicles from the parent Japanese car company.
Hyundai Motors India Ltd. vice-president (marketing and sales) Arvind Saxena said the government decision to reduce excise duties was a welcome decision. The move will help the auto industry grow, specially the small cars segment which constitutes 78 per cent of the market, he said.
Cars could be cheaper by Rs. 7,000 to Rs. 19,000, depending on the model and its variants. Two-wheelers would be cheaper by Rs. 2,000 to Rs. 5,000, industry experts said.
Car market leader Maruti Suzuki India Limited said it has passed on the full benefit of excise duty reduction to customers. The company has announced price reduction in all six models that qualify for the lower excise benefit: Maruti 800, Omni, Zen, Wagon R, Swift Diesel and Alto.
Hyundai said the company has decided to pass on the benefit of the excise duty cut to customers on three models, Santro, i10 and the Getz with immediate effect.
We will be cutting the prices of our small cars between Rs 7,500 and Rs 14,000, General Motors India vice-president P Balendran said.
Finance Minister P. Chidambaram has proposed that the excise duty on small cars, two, three wheelers, buses and their chassis is brought down to 12 per cent from 16 per cent, while in case of hybrid cars the duty will be lowered to 14 per cent from the current 24 per cent.
Small car is defined as one with petrol engine capacity upto 1.2 litres and diesel engine upto 1.4 litres and 4 metres length.
Honda Siel Cars India senior general manager G. Sen expressed disappointment that the gap in excise duty between small cars and big cars has been further widened, but exuded confidence that the reduction in excise duty on hybrid cars would enable the company to import hybrid vehicles from the parent Japanese car company.
Hyundai Motors India Ltd. vice-president (marketing and sales) Arvind Saxena said the government decision to reduce excise duties was a welcome decision. The move will help the auto industry grow, specially the small cars segment which constitutes 78 per cent of the market, he said.
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