Tata, Ford, Skoda cut prices by up to Rs 60,000

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11-Dec-2008 New Delhi / Mumbai / Pune

Tata Motors, Ford, Skoda and TVS Motor on Wednesday announced price cuts across their vehicle models in response to the 4%
reduction in central value-added tax (Cenvat) rates announced on Sunday. The price cuts range from Rs 700 for a TVS scooter to Rs 60,000 for a Tata truck.

In a press release, Tata Motors said its passenger cars, Indica and Indigo, now cost Rs 12,000-23,000 less, and its utility vehicles, Safari and Sumo, are cheaper by Rs 16,000-36,000. For light commercial vehicles, the price cut is in the range of Rs 17,000-23,000 and for medium & heavy commercial vehicles it is between Rs 30,000 and Rs 60,000. The price cuts is effective from December 8.

Skoda India, which launched its Fabia compact car earlier this year, cut prices between Rs 12,500 and Rs 51,500 across all models. While welcoming the excise cut, Skoda India board member (sales and marketing) Thomas Kuehl called for more sops.

Further monetary and regulatory measures including credit availability at lower rates of interest and increased liquidity will be the key driver for further growth momentum, he said.

Ford India slashed prices up to Rs 54,000. While the price of premium hatchback Fusion has been reduced by Rs 18,500, mid-sized sedan Fiesta now costs Rs 21,000- 25,000 less. Sports-utility vehicle Endeavour is cheaper by Rs 47,000-54,000.

TVS Motor Co, Indias third-biggest motorcycle maker, has cut prices across categories by Rs 700- 2,000. The revised prices have come into effect from Wednesday morning.

Source: The Economic Times

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