New Delhi: Car major Ford announced a price cut of the diesel variant of its compact car Fusion by Rs22,000.
The company said it was passing on the benefit of the reduction in the excise duty on small cars from 16 per cent to 12 per cent in the Union Budget 2008.
After the price cut, the diesel variant of Fusion would be available at Rs643, 500 (ex-showroom Delhi), the company reported
The revised pricing would be effective with retrospective effect from March 1, it added.
As a result of the duty cuts in the current Budget, automobile manufacturers had announced price reductions, which they said they would pass on to their customers. The first off the block were Maruti and Hyundai announcing price cuts of up to Rs19,000 and Rs18,000 on different models.
Fiat, Bajaj, Honda Motorcycle and Scooters have all reduced their prices since 1 March.