Vehicle manufacturers ranging from hatchback to sports utility vehicle makers have announced a price cuts ranging from Rs 10,000 to Rs 135,000 with immediate effect, following a reduction by the government on excise duty in the interim budget.
While market leader Maruti Suzuki and Tata Motors announced price cuts yesterday, German car maker Volkswagen, SUV leader Mahindra & Mahindra, Korean brand Hyundai and Honda today also announced a price reduction on their models.
Volkswagen has reduced prices of all its cars with prices for the Polo cut by Rs 18,000-Rs 31,000. For the Vento, prices have been reduced by Rs 14,500-Rs 27,000 while on the Jetta prices have been reduced by Rs 38,000-Rs 51,000.
“We welcome the Government’s decision to reduce excise duty on cars and we at Volkswagen have decided to pass on the entire benefit to our customers. We hope this move will help improve the market sentiment in the automotive industry,” said Arvind Saxena, Managing Director, Volkswagen Passenger Cars.