Car Prices Slashed: Is It the Right Time to Buy your Dream Car
Price of cars and two-wheelers in India were set to come down after Finance Minister P Chidambaram announced a reduction in excise duty on small cars, motorcycles and scooters from 12 per cent 8 per cent.
This has proved to be a major relief to all the auto companies in the red, as the industry could see a pick-up in sales with major manufacturers reducing prices up to a maximum of six per cent.
On reduction of excise duty on passenger cars in the Interim Budget, the country’s biggest carmakers Maruti Suzuki India and Hyundai Motor India (HMI) reduced prices across product portfolios.
While Maruti’s price reduction ranges between Rs 8,502 and Rs 30,984 across models, Hyundai slashed prices by between Rs 10,000 and Rs 1,35,300. The petrol variant of Maruti Swift will be cheaper by Rs 15,000-Rs 17,000 and the diesel one about Rs 20,000-Rs 24,000.
The entire benefit of the excise duty cut is being passed on to customers for the full range of models as stated by Maruti in a statement.
Alto hatchback will be cheaper by Rs 8,502, SX4 by a maximum Rs 30,984, Celerio Rs 13,615, Alto K10 Rs 11,304, Omni Rs 8,698, Eeco Rs 10,881, WagonR Rs 12,578, A-Star by Rs 13,482, Estillo Rs 12,148, Ritz Rs 15,130 and Ertiga Rs 18,747.
Honda Cars India, Volkswagen, Mahindra & Mahindra (M&M) and Fiat also announced price cuts.
Hyundai’s Santa Fe will be cheaper by Rs 135,000. Volkswagen reduced the price of Polo by a minimum Rs 18,000 and that of Jetta by a maximum Rs 51,000.
M&M reduced prices of its passenger vehicles between Rs 13,000 and Rs 49,000. The company also lowered prices of its premium sport utility vehicle Rexton by up to Rs 92,000.
Remaining carmakers are expected to reduce prices in the next couple of days.
However the cut in duty will be applicable up to June 20, 2014, when the new government is likely to present the full year budget.
So decide whether this is the right time to buy your dream car.??
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