After Finance Minister Nirmala Sitharaman’s announcement of the corporate tax cut, Maruti Suzuki India Pvt Ltd, country’s largest vehicle manufacturer on September 25, Wednesday declares a cut of Rs 5,000 in prices for its entry-level products and diesel variants of all products. This declaration has been taken to boost the customers demand in the market ahead of the Navratri and Diwali.
This means the prices of models of Alto K10 and 800, Celerio, diesel variants of Swift, Dzire, Vitara Brezza and S-Cross (last two products available only with diesel engine option) will be available at a lower rate than the earlier.
Speaking on price cut and new prices that will be available from September 25, across the country, Maruti’s spokesperson stated in a press release that this reduction of price will be ended over and above the current promotional offers for the Company’s vehicle range. Company is also hopeful that the price reduction will bring down the cost of acquisition especially for the cost entry-level customers.
Presently, Maruti Suzuki is offering discounts in the range of Rs. 40,000 to Rs. 100,000 on different models in the market to induce possible customers for the upcoming festivals.
Due to the year-long economic slowdown in the automobile sector, domestic sales of passenger vehicles have witnessed an upward trend at 31.6 per cent in August to 1,96,524 units from a year.
According to the data released by the Society of Indian Automobile Manufacturers (Siam),It was the 10th straight decline in domestic passenger vehicle sales. This had been the worst since Siam began monthly sales data in 1997-98. Passenger vehicle sales had been declined since July 2018.