India's top car maker Maruti Suzuki Ltd Friday announced a reduction in prices of some of its models following Finance Minister P. Chidambaram's proposal to trim excise duty by four percent. The prices of all six models that qualify for the lower excise benefit - Maruti 800, Omni, Zen, WagonR, Swift Diesel and Alto - will be reduced. The price reduction ranges from Rs.6,500 for Maruti 800 to Rs.18,030 for Swift Diesel (ex-showroom Delhi), the company said in a statement Friday evening.
Tata Motors has reduced the prices of Indica and Indigo model by Rs 8,500-Rs 15,300. The price cut is a result of the 4 per cent excise duty cut announced by Finance Minister P Chidambaram on Friday. While the Indica will see a price cut ranging between Rs 8,500-RS 14,600, the Indigo compact sedan (CS) will witness a drop of Rs 12,700- Rs 15,300 across variants. The company has also cut prices of its commercial vehicle range, which includes trucks and buses, by 2 per cent.
Hyundai Motor India Ltd intends to cut the prices of its Santro by Rs.12,000 while its Getz and i10 would be cheaper by Rs.14,000 and Rs.12,000 respectively.
According to an official of General Motors, the company would reduce the prices of its Spark and Aveo U-VA models. The price reduction will be between Rs.7,500 and Rs.14,000.
Among the tyre manufacturers, JK Tyre and Industries Ltd has announced its intention to reduce the prices of its radial and bias tyres fitted on trucks, car and farm vehicles from March 1, 2008, onwards.
K.J. Rao, chief financial officer of Ceat Ltd, said the company would pass on the two percent reduction in excise duty to the customers.
Tata Motors has reduced the prices of Indica and Indigo model by Rs 8,500-Rs 15,300. The price cut is a result of the 4 per cent excise duty cut announced by Finance Minister P Chidambaram on Friday. While the Indica will see a price cut ranging between Rs 8,500-RS 14,600, the Indigo compact sedan (CS) will witness a drop of Rs 12,700- Rs 15,300 across variants. The company has also cut prices of its commercial vehicle range, which includes trucks and buses, by 2 per cent.
Hyundai Motor India Ltd intends to cut the prices of its Santro by Rs.12,000 while its Getz and i10 would be cheaper by Rs.14,000 and Rs.12,000 respectively.
According to an official of General Motors, the company would reduce the prices of its Spark and Aveo U-VA models. The price reduction will be between Rs.7,500 and Rs.14,000.
Among the tyre manufacturers, JK Tyre and Industries Ltd has announced its intention to reduce the prices of its radial and bias tyres fitted on trucks, car and farm vehicles from March 1, 2008, onwards.
K.J. Rao, chief financial officer of Ceat Ltd, said the company would pass on the two percent reduction in excise duty to the customers.
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