Maruti Suzuki, one of the leading automobile manufacturers, on Wednesday (September 25), announced a reduction of ₹5,000 in select models of its make. This comes less than a week after the Union government announced an 8 percent reduction in corporate tax.
This reduction of price will be over and above the current promotional offers for the company’s vehicle range, it added.
The company said it is optimistic that the price reduction will bring down the cost of acquisition, especially for the entry-level customers. “This announcement around the festive season will help boost customer sentiment and revive the market to create demand,” MSI said.
Popular models that got a rate cut on the (ex-showroom) price are Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross. These new prices will come into force with immediate effect, across the country.
These models are priced in the range of ₹2.93 lakh and ₹11.49 lakh.
The company has already announced a 5-year warranty besides a 1 lakh kilometre warranty on four of its select diesel-powered models.
After facing mounting pressure to take measures to revive the lagging economy, Union Finance Minister Nirmala Sitharaman on September 20 announced a cut in the corporate tax rate for domestic firms to 22 percent from 30 percent. For new manufacturing companies, the existing tax has been reduced to 15 percent from 25 percent.
(With inputs from agencies)