Mumbai: India's top car maker Maruti Suzuki Ltd said on Friday it had cut prices of some models following a government proposal to trim tax on small cars.
The Finance Minister, in the Union Budget for the fiscal year 2008/09, cut excise duties on small cars, as well as 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.
Maruti said it would reduce prices of all its small car models, ranging from Rs 6,500 on the Maruti 800 to Rs 18,030 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, a unit of Hyundai Motor, said it will cut the price of its Santro model by up to Rs 13,278 and the price of its i10 model by up to Rs 16,324.
It said it will reduce the price of its Getz Prime model by up to Rs 19,419.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
TOP NEWS
MOST SHARED
PHOTOGALLERY
