Five days later after announcing excise duty cuts on all categories of vehicles in the interim Budget 2014-15, Ford India has now joined the list of carmakers who have put into effect a price cut on their respective cars. The U.S-based automaker, just like all the other automakers wants to pass on the benefits, resulting from excise duty reduction on to their customers. The move has been implemented in order to resurrect the Indian auto industry that has been sluggish for the past two years, courtesy of rising fuel costs, rise in input cost and increased interest rates.
The price cut is applicable on all the cars under Ford’s portfolio in India. The cost of Figo hatchback has been reduced by Rs 23,399, while that of the Ford Classic sedan has been dropped by up to Rs 24,056. Ford’s flagship, the EcoSport compact crossover will now cost Rs 25,947 less. Ford Fiesta and Ford Endeavor premium SUV will now fetch benefits of up to Rs 32,961 and Rs 1,06,753 respectively.
Commenting on the move, Ford India executive director of marketing, sales and service Mr Vinay Piparsania said, "Reduction of excise duty is a welcome step for the automotive industry and is timely with de-growth the industry is currently witnessing. We hope it will have a positive impact on consumer sentiment and stimulate pent up demand."