Following the announcements in the Union budget, car manufacturers have passed on to buyers savings attributed to the cut in custom duties on car CKD kits of 15-20%.
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The cuts apply mainly to larger and more expensive models imported in CKD form for local assembly.
Honda has reduced prices INR2,500 to INR8,000 for its City and Accord models. Skoda will take up to INR50,000 off cars ranging from the basic Octavia Rider to the large Superb saloon but has not yet announced specific price cuts.
Toyota has lowered the prices of its recently launched Innova as well as its Corolla models. The Corolla will now cost an average INR32,000 less while Innova models have bee reduced INR14,000.
Hyundai has cut INR12,000 to INR14,000 off the Rlantra line while Sonata price cuts are in the INR14,000 to INR15,000 range.
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By GlobalDataThough DaimlerChrysler imports C-, E- and S-class models in CKD form, it has not yet announced lower prices but could follow suit.
General Motors, assembler of the GM-Daewoo-sourced Chevrolet Optra said it would not cut prices as the car has 40% local content but is offering incentives.
Deepesh Rathore / Tilak Swarup
