Maruti Suzuki India (MSIL), the country’s largest automaker, on Wednesday announced the reduction in prices of select models by Rs 5,000 (on ex-showroom price). It is to be noted that the new prices has come into effect from September 25, 2019 i.e. today onwards. The decision from Maruti Suzuki comes days after Prime Minister Narendra Modi-led central government slashed the corporate tax. Finance Minister Nirmala Sitharaman had recently introduced a corporate tax reduction, bringing down overall corporate taxes to 25.17 per cent from 30 per cent.
In a statement, Maruti Suzuki said, “With government’s initiative to revive the demand in the automobile industry, the come will proactively and voluntarily share the benefits of corporate tax reduction with its customers.”
“The price reduction is applicable to all variants of Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross,” the automaker added. According to the company, this reduction of price will be over and above the current promotional offers for the company’s vehicle range.
“The Company is optimistic that the price reduction will bring down the cost of acquisition especially for the entry-level customers. This will help boost customer sentiment and revive the market to create demand around festive season,” It added.
It is worth mentioning here that India’s auto sector has been witnessing rough times since the start of 2019 and automakers are in huge loss. However, to make up the loss and cash in on the festive mood, various automakers including Honda, Hyundai and others are offering huge discounts across their product line-up.