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Maruti, Ford, HM cut prices by Rs 10,000-Rs 1.4 lakh

Ford India and Hindustan Motors slashed their vehicle prices by Rs 15,000-Rs 1.4 lakh, while Maruti cut the price of its basic 800 model by Rs 10,000.

business Updated: Mar 01, 2003 19:09 IST

Ford India and Hindustan Motors on Saturday slashed their vehicle prices by Rs 15,000-Rs 1.4 lakh following the eight per cent excise duty reduction in Budget 2003-04.

Maruti Udyog also announced a minimum Rs 10,884 cut in the price of its basic Maruti 800 model, while the maximum price cut is for the high-end Baleno, at Rs 37,664.

Ford, which makes the mid-sized car Ikon, has cut prices of all variants of the car by Rs 22,488-Rs 30,268 with immediate effect, its director (sales) Vinay Piparsania told PTI.

The ex-showroom Delhi price of the basic Ikon 1.3 CLXi model with the Endura engine has come down by Rs 22,488 to Rs 5,15,142, he said.

The new Ikon 1.3 CLXi Nxt price has been reduced by Rs 23,341 to Rs 5,56,825 while the price tag of the 1.6 Ikon Nxt will be Rs 6,28,955, down Rs 27,486.

The price of Ikon 1.8 ZXi Nxt diesel version has been cut by Rs 30,268 to Rs 6,89,548, Piparsania said.

Hindustan Motors president, B K Chaturvedi said prices of all its vehicles have been drastically reduced after the excise duty cut and imposition of one per cent calamity tax.

While ex-showroom prices of all versions of the premium mid-size sedan Lancer has been lowered by Rs 32,700-Rs 50,000, the old workhorse Ambassador would witness a Rs 18,000-Rs 20,000 reduction in prices of all its variants.

Price of sports-utility-vehicle Mitsubishi Pajero has been slashed by Rs 97,000-Rs 1.05 lakh for the completely- knocked-down variants which cost Rs 19-Rs 20 lakh.

In the case of the top-end completely-built-unit variants priced at about Rs 34 lakh, the reduction would be in the range of Rs 1.35-Rs 1.40 lakh, Chaturvedi said.

First Published: Mar 01, 2003 19:09 IST