The Hindu Business Line : Hyundai, Maruti, GM to cut prices

To cost less
Hyundai reducing prices in the range of Rs 8,700 – Rs 20,000.
Maruti small segment cars will be cheaper by Rs 6,500- Rs 18,000.
GM price cuts will range from Rs 7,500 to Rs 14,000 on Spark, U-VA.

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New Delhi, Feb. 29 Car makers have been quick in responding to the announcement in the Union Budget of reduction in excise duty on small cars. Enthused by the excise duty cut, most car makers have announced reduction in the prices of their small cars to pass on the cost benefits to customers.

A short while after the Budget announcement, Hyundai Motor India said that it would reduce the prices on Getz, i10 and Santro. Hyundai announced reduction in prices in the range of Rs 8,730- Rs 13,278 on its flagship model Santro, Rs 11,047- Rs 16,324 on its newly launched premium compact car i-10 and from Rs 13,169- Rs 19,419 on its hatchback Getz.

A major boost

“At a time when the industry sales seemed to be tapering off, this has come as major boost and it will help the industry maintain its growth rate. Today, 75 per cent of the car sales are in the compact segment and this cut in excise duty will benefit manufacturers and customers alike,” said Mr Arvind Saxena, Senior Vice-President, Sales and Marketing, Hyundai.

Maruti Suzuki will also slash prices on all its six models that qualify for lower excise benefit including Maruti 800, Omni, Zen, Wagon R, Swift Diesel and Alto. The reduction would range between Rs 6,500 for Maruti 800 to Rs 18,030 for Swift Diesel (ex-showroom Delhi).

General Motors said it would reduce prices in the range of Rs 7,500 –Rs 14,000 on its best selling Spark and U-VA. “The reduction in duty would make the compact car segment more competitive, apart from boosting sales,” said Mr P Balendran, Vice President, General Motors.

“Tata Motors will lower prices of its small cars and commercial vehicles including buses, bus chassis and bus body in view of the reduction of excise duties announced in the Union Budget. The new applicable prices will be announced in the next few days, after the company has studied the details of the policy changes,” a company statement said.

More Stories on : Budget | Cars | Maruti Udyog Ltd

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