Tata Motors, Ashok Leyland cut truck prices | autos | Hindustan Times
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Tata Motors, Ashok Leyland cut truck prices

Leading truck and bus makers, Tata Motors Ltd and Ashok Leyland Ltd, said they had cut prices following a 2 percentage point reduction in factory gate duty.

autos Updated: Feb 25, 2009 12:25 IST

India's leading truck and bus makers, Tata Motors Ltd and Ashok Leyland Ltd, said on Wednesday they had cut prices following a 2 percentage point reduction in factory gate duty.

"We are passing on the full benefits of the excise duty reduction," a spokesman for Ashok Leyland said, adding this would bring prices down on average by slightly more than 16,000 rupees ($321) per vehicle.

On Tuesday, the government reduced central excise duty to 8 percent from 10 percent and trimmed tax rates on services to 10 per cent from 12 per cent.

Tata Motors, India's largest vehicle maker, has reduced truck prices, a spokeswoman said but did not give details.