zinam 9th December 2008, 10:49 am
The Indian auto industry, which has been witnessing slackening demand due to high interest rates and liquidity crunch in the market, heaved a sigh of relief after the government announced a slew of measures to boost demand. Sunday's announcement has made several auto manufacturers like Maruti, Hyundai, Toyota and Hindustan Motors-Mitsubishi pass on the entire benefits to the consumers. :bounce:
While Maruti Suzuki became the first to reduce prices across its product portfolio by 4% on Sunday, Tata Motors on Monday said, “The company will pass on to the customers the benefit that will come in through the cut in Cenvat. This applies to products across segments including passenger cars and commercial vehicles. The details of the extent of price reduction are still being worked out.” :bounce:
Maruti Suzuki has announced a price reduction in all 11 car models that are manufactured in company's plants in Gurgaon and Manesar. “After passing on the complete duty reduction benefit, the price reduction (ex showroom Delhi) ranges from Rs 6,500 for Maruti 800 to Rs 23,000 for the top-end SX4 sedan. There is no change in prices of Grand Vitara, as it is not impacted by Cenvat changes,” it said.
Toyota Kirloskar Motor too came ahead to slash prices across models. While price reduction on Innova will be in the tune of Rs 23,980 to Rs 32,780 (ex-showroom Delhi), Corolla Altis will be Rs 34,100 to Rs 40,750 (ex-showroom Delhi), Camry Rs 70,430 to Rs 76,130 (ex-showroom Delhi) and Prado Rs 1,21,330 (ex-showroom Delhi). :bounce:
Hyundai has effected a range of price cuts, including prices of flagship model Santro being cut by Rs 8,834 for the non-AC model while the top end luxury car Sonata will see a price drop of as much as Rs 44,792. :bounce:
Hindustan Motors Ltd has cut prices of its Mitsubishi vehicles by up to 4%. The company has reduced the prices of all Mitsubishi models - Lancer, Cedia, Pajero, Outlander and Montero.
Meanwhile, though the industry has cheered the fiscal measures, it feels that the issue of availability of finance is still to be addressed. “The cut in fuel prices, RBI's package and the various measures by the central government will help boost demand in the industry. However, the availability of finance still holds the key to issues facing the industry,” said Dilip Chenoy, director general of the industry body SIAM.
Hope this is very good news for all the buyer... :!:
Come on everyone Gear up & catch ur Car soon before it increases in Jan.... :)