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Hindustan Motors cuts SUV prices on excise duty cut
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MUMBAI |
MUMBAI (Reuters) - Auto maker Hindustan Motors Ltd (HML) said on Monday it would cut prices of some of its sports utility vehicles (SUV) by 6,000 rupees per unit, after India cut excise duty on large cars and vehicles.
The finance minister in his budget presentation on Monday had mentioned that excise duty on cars and utility vehicles having an engine capacity of 2,000cc and above will be reduced to 15,000 rupees per vehicle from 20,000 rupees earlier.
"With the government announcing a reduction in the excise duty on some of our vehicles in the relevant segment, we are passing on the entire benefit to our customers with effect from July 7," the firm said in a statement.
The price cuts will be applicable on its Pajero, Outlander & Montero brands, made in collaboration with Japan's Mitsubishi Motors Corp.
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