Carmaker Ford India on Wednesday said it has slashed the prices of its models by up to Rs 54,000, in response to the government's move to reduce excise duty.
The price of the company's premium hatchback 'Fusion' has been reduced by Rs 18,500, Ford India said in a statement.
Likewise the mid-sized sedan Fiesta's price was cut between Rs 21,000 and Rs 25,000, while that of sports utility vehicle 'Endeavour' has been reduced by Rs 47,000-Rs 54,000.
"We are supportive of the government's action on reduction of CENVAT and see this as a welcome move. This will bring some relief to the Indian automotive industry in general. With that in mind we will be passing on the benefit of the duty cut to our customers," Ford India President Michael Boneham said.
Earlier this week, the Government reduced Central Value Added Tax by four percentage points to 10 per cent, making room for auto makers to reduce prices of vehicles.