India’s Maruti Suzuki announces price cut to boost sales

India’s ace car manufacturer, Maruti Suzuki, on Wednesday announced a price cut on its ten different models by 5000 Indian Rupees on their ex-showroom value, in a bid to boost sales amidst ongoing economic slowdown.

According to the company sources, the new prices will be applicable with effect from Wednesday across the country.

“This price reduction will be over and above the current promotional offers for the company’s vehicle range. The company is optimistic that the reduction will bring down the cost of acquisition, especially for entry-level customers. This announcement around the festive season will help boost customer sentiment and revive the market to create demand,’’ the sources said.

Maruti’s popular models, on which the prices had been slashed, include Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross.

Earlier, the Indian Government lowered the corporate tax rate from 30 percent to 22 percent for the existing companies. Meanwhile, the country’s automotive sector has been facing a slowdown even as sales of passenger cars and commercial vehicles have been witnessing a dip over the past ten months.