Honda Motorcycle & Scooter India (HMSI) today cut prices of its products by up to Rs. 7,600 after the excise duty reduction announced in the Interim Budget 2014-15.
"Honda welcomes excise duty relief given to auto industry in the interim Budget... Honda has decided to pass the full benefit of 4 per cent excise duty reduction on two-wheelers to its valued customers across India with immediate effect," HMSI said in a statement.
The price benefit starts from minimum of Rs. 1,600 on Dream Neo motorcycle, priced between Rs. 43,150 and Rs. 47,289, and goes up to Rs. 7,600 on CBR 250R performance bike tagged between Rs 1.58 lakh and Rs. 1.93 lakh (ex-showroom Delhi).
HMSI sells a range of scooters including the Activa and Deo, and motorcycles such as Dream Yuga, CB Stunner, CB Unicorn and CB Twister among others.
Presenting the Budget yesterday, Finance Minister P Chidambaram announced reduction in excise duty on small car, motorcycles, scooter and commercial vehicles to 8 per cent from 12 per cent, and on SUVs to 24 per cent from 30 per cent.
Large cars also saw excise reduction to 24 per cent from 27 per cent earlier, and mid sized cars to 20 per cent from 24 per cent.