Carmaker Fiat India has reduced prices of its flagship model Palio Stile in response to tax cuts for small cars announced in India's national budget for 2008-09. The three variants of Palio Stile will cost up to Rs.12,000 less from March 1.
"We welcome the finance minister's move on reduction in Cenvat (central value-added tax) rate and have decided to pass on the benefit to our customers," a company spokesperson said. Fiat India is a 50:50 joint venture between Fiat Group Automobiles SPA and Tata Motors.
Last week, Tata Motors lowered prices of its popular Tata Indica models by Rs.12,000 to Rs.16,000.
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