pricewale|Latest Cars & Bikes

Car buyers can expect lower prices.

Posted on: March 2, 2009

Missed out on a good car bargain the last time? Wait, there is
relief yet.

In a stride that could see the price tags of cars coming down, the government is understood to be in discussion with automakers to pass on the entire benefit of the four per cent CENVAT cut in December last year, to consumers.

The move comes after some auto majors, including the country’s largest carmaker Maruti Suzuki, Hyundai Motor and Toyota Kirloskar, increased their vehicles’ prices in the last two months citing rise in input costs and devaluation of the rupee in the international market.

“The Department of Heavy Industries has been asked to see that automobile majors pass on the benefit of the duty cut to consumers,” an official source privy to the recent meeting of the Committee of Secretaries said.

Source: Pricewale.com

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