Maruti, Hyundai, Toyota, Mitsubishi, cut rates after excise cuts
09 December 2008
New Delhi: Maruti Suzuki, Hyundai Motor, Mitsubishi and Toyota Kirloskar have cut prices between 3 pe cent and 3.5 per cent following the announcement of a 4 per cent cut in Cenvat (excise) on cars by the union government on Sunday (See: Centre cuts excise by 4 per cent; unveils Rs30,700 crore stimulus).
Almost first off the block in announcing a reduction in prices, India's largst passenger car maker, Maruti Suzuki has cut the price of its flagship Alto by around Rs9,000 and of the newly-launched hatchback A-Star by Rs 16,664.
The company has also cut the prices of its entry model M-800 and Omni in the range of Rs6,593 to Rs8,032.
Prices of the Zen Estilo, Wagon R, Swift hatchback and Dzire, have been reduced between Rs11,167 and Rs21,784 for the top end variant of its entry level sedan, Dzire.
The sharpest cut in price is on Maruti's sedan SX4 which would now cost Rs 7.37 lakh compared with Rs 7.6 lakh earlier, a reduction of almost Rs 23,187. In a statement, the company said that the revised prices would be with effect from December 7.
The company has not made any changes in the price of the imported SUV, Grand Vitara.