Luxury car prices slashed by up to Rs 3.82 lakhs in India
Following announcement by Finance Minister, P Chidambaram regarding reduced excise on automobiles in the interim 2014-15 Union Budget, luxury car makers such as Audi and Mercedes Benz have immediately reduced prices on their cars by upto INR 3.82 lakhs.
Mercedes Benz has reduced prices of GL Class by INR 2 lakhs and it is now available for INR 72 lakhs while its C Class C220 Ava grand edition will now be priced at INR 39.35 lakhs as against an earlier price of INR 39.90 lakhs. E Class – E 250 CDI prices too have been reduced from an earlier price of INR 47.66 lakhs to INR 46.90 lakhs.
P C Chidambaram has announced reduction in Excise Duty from an earlier of 12% to 8% for small cars, scooters, motorcycles and commercial vehicles while for SUVs Excise Duty is down from 30% to 24%. Medium sized cars now come with a 4% reduction in Excise Duty from 24% to 20% while duty on large cars now stands at 24% as against an earlier 27%. These reduced rates will be applicable till June 20, 2014.