Maruti Suzuki, Hyundai, Mahindra & Mahindra have cut prices across all its models after Finance Minister P Chidambaram reduced excise duty on automobiles in the Interim Budget.
Maruti's Alto 800's prices have been cut by 3.4-3.5 per cent, Maruti Suzuki dealerships told NDTV. Dzire's prices to have been reduced by 3.4-3.5 per cent, they said.
While Maruti Suzuki's price cuts range between Rs 8,502 and Rs 30,984 across its models, Hyundai has slashed prices by between Rs 10,000 and Rs 1,35,300.
Maruti's recently launched Celario's prices have been slashed by 3.5-3-6 per cent, dealers said.
The entire benefit of the excise duty cut is being passed on to customers for the full range of models, Maruti Suzuki said in a statement.
Mahindra's premium SUV (Sports Utility Vehicle) Rexton will be cheaper by up to Rs 92,000, the company said in a statement. The rest of the price cuts range between Rs 13,000 to Rs 49,000, Mahindra said.
Hyundai Motor India Ltd (HMIL) also said customers would get the full benefit of the excise duty reduction. The price cut applied to all the models, from Eon to Santa Fe.
"The reduction in excise duty would substantially reduce the prices, making cars more affordable," Hyundai Motor India Ltd's Senior Vice President, Sales and Marketing, Rakesh Srivastava said.
On February 17, Mr Chidambaram cut excise duty to 8 per cent from 12 per cent for small cars, scooters, motorcycles and commercial vehicles; 24 per cent from 30 per cent for SUVs; 20 per cent for mid-sized cars from 24 per cent and 24 per cent for large cars from 27 per cent.
(With inputs from PTI)
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