NEWS & ADVICE : CAR LOANS
Car majors reduce prices on high-end models
By Vaibhav Aggarwal
Jul 9, 2009
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Auto giant, Ford India has reduced prices on its sport utility vehicle 'Endeavour' by up to Rs 6,000 per unit to transfer the benefit of excise duty cut on big cars to the customers.

"The price reduction of Rs 6,000 will be applicable to all three variants of the Endeavour," the company said in a statement.

Commenting on the move, Tim Tucker, Vice-President (Sales), Ford India, said, "The duty reduction has been a welcome step taken by the government though the reduction is limited only to large cars. We are pleased to pass the benefit of the reduction on the Endeavour to the consumer in its entirety."

Another carmaker, Honda Siel Cars India has also reduced prices on select models by up to Rs 6,000 a piece. The company has reduced price on its luxury sedan 'Accord' and sport utility vehicle 'CR-V' by Rs 5,000. With this, 'CR-V' would be available between Rs 22.92-Rs 23.62 lakh in the Indian markets.

The Union budget for 2009-10 announced reduction in excise duty on big cars (those with engine capacities of 2,000 cc and above) by Rs 5,000 per unit. Following the announcement, Mitsubishi's was the first company to reduce prices of its high end models, which include Pajero, Outlander and Montero by Rs 6,000 per unit.

The budget also declared duty cut on petrol-driven trucks to 8 percent from the earlier 20 percent.

 


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