NEW DELHI, Sept 26 (NNN-PTI) – India’s ace car manufacturer, Maruti Suzuki, announced price cut on its ten different models by 5,000 Indian Rupees (71 U.S. dollars), on their ex-showroom value, in a bid to boost sales, amidst the ongoing economic slowdown.
The new prices are applicable with effect from Wednesday, across the country, said company sources.
“This reduction of price will be over and above the current promotional offers, for the company’s vehicle range,” said the company, in a statement yesterday.
It added, “The Company is optimistic that the price reduction will bring down the cost of acquisition, especially for the entry-level customers. This announcement, around the festive season, will help boost customer sentiment and revive the market to create demand.”
Only a couple of days ago, the Indian government had lowered the Corporate Tax rate, from 30 percent to 22 percent for existing companies.
The country’s automotive sector has been facing a slowdown, as sales of passenger cars and commercial vehicles have been witnessing a dip over the past ten months.– NNN-PTI