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General Motors slashes car prices by up to Rs 49,000

General Motors slashes car prices by up to Rs 49,000

Snapshot: The price cut has resulted due to excise duty reduction announced in the interim Budget 2014-15.

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Following Monday’s surprise reduction in excise duty on cars and motorcycles, many automakers in the country have decided to pass on the benefits to the customers. Joining the long list of carmakers who have initiated a price cut in the last few days is the U.S-based General Motors who have dropped car prices by up to Rs 49,000 across its entire range. “The company has reduced prices across categories in the range starting from Rs 12,000 to Rs 49,000,” General Motors India vice president P Balendran said in a statement.

Balendra further said that the duty cut would marginally improve sales for auto markers and industry is expected to turnaround only when a new government assumes office post the general election. General Motors registered total sales of about 86,826 units in the previous year and about 92,000 in the year before that. 

Other automakers who announced a price cut earlier in the week include, Maruti Suzuki India, Hyundai Motor India, Mahindra & Mahindra Ltd, Honda Cars India, Fiat India and luxury car maker Mercedes Benz India. The excise duty has been cut to 8 per cent from 12 per cent for small cars, scooters, motorcycles and commercial vehicles; 24 per cent from 30 per cent for SUVs; 20 per cent for mid-sized cars from 24 per cent and 24 per cent for large cars from 27 per cent. 

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