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Price cuts galore on small cars
Our Bureau
New Delhi, Feb. 28
Carmakers Maruti, Hyundai and Tata Motors have decided to pass on the excise concessions announced in the Union Budget on small cars to consumers. Following a reduction in excise duty on small cars from 24 per cent to 16 per cent, the three companies have slashed prices of their small car models effective March 1.
Maruti, for instance, is reducing prices across five of its models — Maruti 800, Omni, Zen, WagonR and Alto - by Rs 12,704 to Rs 25,052.
Hyundai Motor India has decided to slash prices of its largest selling model Santro by about Rs 23,000.
Tata Motors has decided to cut the prices on the Indica's diesel and petrol range. "The company has decided also to cut prices of Indica Petrol range, even though the Indica Petrol range falls outside the defined norms in the Budget," the company said in a news release. Meanwhile, premium carmaker Honda Siel today said it has decided to pass on the benefit accrued from reduction in the peak rate of customs duty to the consumer. The company has slashed prices of the Honda City Exi and Gxi by Rs 2,000, and City Vtec by Rs 10,000. The price of the Honda Accord has been reduced by Rs 15,000.
Honda has, however, increased price of the sports utility vehicle CRV by Rs 33,000 because of imposition of 4 per cent CVD. General Motors has decided to drop prices of the Chevrolet Optra by up to Rs 20,000 following the drop in peak customs duty rate.
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