Ford, General Motors, Skoda slash pricesDecember 10th, 2008 - 9:45 pm ICT by IANS
New Delhi, Dec 10 (IANS) A few days after the government reduced the central value-added tax (Cenvat) by four percent, auto majors Skoda India, Ford and General Motors Wednesday announced price cuts to pass on the benefit to customers. While Ford has cut prices in the range of Rs.17,500 and Rs.54,000, General Motors has slashed prices by as much as Rs.16,500 for its multy-utility vehicle Tavera, the companies said.
Czech auto maker Skoda, which recently launched its first hatchback Skoda Fabia in the Indian market, is offering discounts in the range of Rs.12,500 and Rs.51,400.
The government Sunday announced the four percent cut in Cenvat as part of a stimulus package for the ailing economy.
“We are supportive of the government’s action on reduction of Cenvat. This will bring some relief to the Indian automotive industry in general,” Ford India president Michael Boneham said.