Maruti cuts car prices up to Rs18,000; Hyundai follows with cuts of up to Rs19,000
29 February 2008
Mumbai: Maruti Suzuki Ltd, the country's top car maker, today announced a roll back in prices of some of its models following the budget proposal to reduces tax on small cars.
Maruti said it would reduce prices of all its small car models, ranging from Rs6,500 on the Maruti 800 to Rs18,030 on the Swift diesel model.
Tata Motors Ltd, the top bus and truck maker, said it will cut prices of its small cars and commercial vehicles, and announce the new prices "in the next few days."
Hyundai Motor India Ltd offered to cut the price of its Santro model by up to Rs13,278 and the price of its i10 model by up to Rs16,324. It will also reduce the price of its Getz Prime model by up to Rs19,419.
Finance minister P Chidambaram, in the UPA governments' last full budget for fiscal 2008-09, proposed to cut excise duties on small cars, buses and chassis to 12 per cent from 16 per cent.
He also cut duty on hybrid cars to 14 per cent from 24 per cent and on two- and three-wheelers to 16 per cent from 24 per cent.