Hyundai India reduces car prices by upto Rs. 1,35,300: Interim budget 2014-15
In January 2014, Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter registered domestic sales of 33,405 units, which equated to 2.6% sales decline when compared with 34,302 cars sold in January 2013.
Exports for the month stood at 12,010 units which is where the company was hit hardest at 32.2% sales decline when compared to 17,722 cars sold in January 2013.
In all, cumulative sales for January 2014 stood at 45,415 units as compared with 52,024 cars sold in 2013 Jan, equating to 12.7% sales decline. In keeping with Interim Budget announcements this Monday, HMIL has announced that it will pass on the full reduction of excise tax benefit to buyers in India. Price deduction benefit is applicable to all carlines, from Eon to Santa Fe.
Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing, HMIL said, “The reduction in Excise Duty would substantially reduce the prices, making cars more affordable. The quantum of benefit will vary from Rs. 10,000/- to Rs. 1,35,300/- across all the models. Hyundai Motor India Ltd will extend the benefit of these excise duty cuts to customers with immediate effect & will also support its dealerships suitably.” New prices across all vehicles came into effect from 18 Feb 2014.