Country's largest carmaker Maruti Suzuki India (MSIL) has become the first company to pass on the government's recent announcement of lowering taxes, to its customers.
Welcoming the government’s initiative to revive the demand in the automobile industry, MSIL is proactively and voluntarily sharing the benefits of corporate tax reduction with its customers and has decided to reduce the price of select models by Rs 5,000 (on ex-showroom price).
The selected models include all variants of Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross.
The new prices will be applicable from Wednesday, across the country.
Read also: India's corporate tax rate is now among the lowest globally
"This reduction of price will be over and above the current promotional offers for the company’s vehicle range," the company said in a statement.
"The company is optimistic that the price reduction will bring down the cost of acquisition, especially for entry-level customers. This announcement around the festive season will help boost customer sentiment and revive the market to create demand," it added.
As part of the festive season offer, companies like Tata Motors and Honda Cars India are already offering discount benefits up to Rs 2 lakh and Rs 4 lakh respectively.