Hindustan Motors cuts prices of Ambassador

Responding to the Goverment’s cut in CENVAT, Hindustan Motors today announced price cut of Ambassador. mbassador prices would be downward revised in the range of Rs  10,000  to  14,500, depending on the model. Ambassador is sold in 1.5L,1.8L & 2. L options and is available in Petrol, Diesel, CNG & LPG variants. Hindustan Motors Managing Director, Mr Ravi Santhanam said, “We have responded to the Government’s move by  passing on the benefit from the excise duty  cut to our customers immediately. This move  will certainly help in increasing demand for our entire product portfolio

Hyundai reduces prices of Santro,i10,getz,Accent,Verna and Sonata

Impact of reduction in CENVAT rate – Price cut

Like other car makers, Hyundai passed on the benefits of cut in cenvat rate to customers.

* Hyundai’s santro (GL-non AC) becomes cheaper by Rs.8,834

* Hyundai’s i10 becomes cheaper by Rs Rs.11,247 and Rs.18,381 depending on the variants

* Sonata becomes cheaper by Rs.44,792

Hyundai also said that the December jackpot offer the company earlier announce will conitinue even after the price cut. To know more Hyundai’s december jackpot offer visit http://www.vicky.in/blog/hyundai-slashes-price-of-santroaccent-and-verna/

New Price and savings on each model

Model Current Price
(Rs)		 New Price
(Rs)		 Saving
(Rs)
Santro ( Non AC) 265,132 256,299 8,834
Santro (GL) 332,794 321,738 11,057
Santro (LPG) GLS 373,357 360,865 12,492
i10 (Delite) 337,174 325,927 11,247
i10 (Sportz) 426,869 412,520 14,349
i10(Asta AT) 543,644 525,263 18,381
Getz (GLE 1.1) 394,089 380,675 13,413
Getz (GLX 1.3) 498,548 483,298 15,251
Getz (GVS CRDi) 564,548 545,126 19,422
Accent 499,904 484,364 15,540
Verna (i) 649,190 629,566 19,625
Verna (CRDi SX ABS) 836,544 810,370 26,174
Sonata (MT) 1,238,562 1,200,556 38,006
Sonata (CRDi AT) 1,447,014 1,402,223 44,792

Maruti Suzuki reduces prices of M800, Alto,Wagon-R, Zen estilo,A-star,Swift and SX4

Impact of reduction in CENVAT rate – Price cut

Maruti Suzuki today announced that it slash the prices of M800,Alto,Wagon-R,A-star,Zen estilo and SX4 models owing to reduction in Cenvat by Government of India. The price of its top-end SX4 sedan goes down by Rs.23,000 to Rs.760,542, While the small car Maruti-800 will be cheaper by Rs.6,500 at Rs.193,561, the alto becomes cheaper by Rs8000.

* M800 variants becomes cheaper by Rs 6,593 to Rs 7,516

* Alto variants becomes cheaper  by Rs 8,028-Rs 9,814.

* Zen Estilo variants becomes cheaper  by Rs 11,849 to Rs 12,747.

* Wagon-R variants becomes cheaper  by Rs 11,167-Rs 12,793.

* A-star variants becomes cheaper by 12,156 and Rs 14,392.

* Gypsy variants becomes cheaper  by Rs 16,326 to Rs 16,989.

* Versa variants becomes cheaper  by Rs 11,605 to Rs 15,193

* Swift variants becomes cheaper by 12,458-Rs 17,868

* DZiRE variants becomes cheaper  by Rs 14,699 to Rs 21,784 .

* SX4 variants becomes cheaper  by Rs 19,752 to Rs 23,187 .

Maruti Suzuki added that all its 11 car models will be cheaper “immediately”. To know about Maruti Suzuki’s December offer visit http://www.vicky.in/blog/maruti-offers-discounts-on-800altowagon-r-and-zen-estilo/

Toyota cuts prices of Corolla altis and Innova

Impact:reduction in CENVAT rate

After the government announced four percent cut in central value-added tax (Cenvat), manufacturers has started slashing prices of its models. Toyota which earlier said it mulls a price hike owing to the raise in raw materials now come forwarded to cut the prices of Innova and corolla altis. While the prices of Innova variant are reduced by up to Rs.32,780, high-end models of Corolla altis becomes cheaper by Rs.40,750.
“As a responsible corporate citizen, we feel this will stimulate the market by making our cars more affordable to the Indian customer. We are also positive about the recently reduced repo rates by the government, which should reduce interest costs for banks,” said deputy managing director in charge of marketing Sandeep Singh.

Update:

* Variants of corolla altis becomes cheaper by Rs 34,100-Rs 40,750

* Variants of Innova becomes cheaper by Rs 23,980-Rs 32,780

* Variants of camry becomes cheaper by Rs 70,430-Rs 76,130

* Prado becomes cheaper by Rs 1, 21,330

Hindustan – Mitsubishi reduce prices of lancer,cedia,Pajero, Montero and Outlander

Following the four per cent reduction in Cenvat by Government of India, Hinudstan Motors – Mitsubishi reduced the prices of Lancer LXd BS II, Lancer LXd BS III, cedia spirit,cedia sports, Pajero,Outlander and Montero.Mr. Y.V.S Vijay Kumar, Executive Vice-President and SBU head Hindustan Motors said, “The appreciation of the US dollar against rupee and rise of Japanese Yen against the rupee had pushed the prices of our vehicles up. Now that the government has reduced the excise duty, we wanted to pass the benefit to our customers and spur-up the demand for our performance vehicles.”  The ex-showroom prices of the models would be the same across the country as HM-Mitsubishi follows the one country, one price concept in India.

* Price of  Lancer LXd BS II and Lancer LXd BS III is cut by Rs25,000

* Hindustan Mitsubishi Cedia spirit price is down by Rs31,000

* Price reduction of Rs33,000 on Cedia sports

* Hindustan Mitsubishi Pajero price has brought down by Rs65,000

* Newly launched Outlander now retails at Rs21 lakhs down by Rs65000

* Montero price has also come down by Rs1.19lakhs

Model Old Price New price
Lancer LXd BS II Rs.7.99 lakhs Rs. 7.74 lakhs
Lander LXd BS III Rs. 8.14 lakhs Rs. 7.89 lakhs
Cedia (Spirit) Rs. 10.11 lakhs Rs. 9.80 lakhs
Cedia (Sports) Rs. 10.50 lakhs Rs. 10.17 lakhs
Pajero Rs.20.90 lakhs Rs. 20.25 lakhs
Outlander Rs.21.00 lakhs Rs. 20.35 lakhs
Montero Rs. 39.50 lakhs Rs. 38.31 lakhs

Mahindra postpones Xylo launch to january 2009; Fiat defers Linea

Whether the 26/11 Mumbai terrorist attack had an impact on assembly elections or not, it affects the automotive Industry. The sentiments are down and two major launches – Mahindra’s Xylo and Fiat’s linea which were initilally scheduled for mid december is pushed to January 2009. Fiat’s which earlier planned to launch line on December 16 is now looking for an auspiscious date. Mahindra which is betting big on Xylo MUV has deferred the launch to January 2009. “The sentiments were already down, but due to the terror attacks in Mumbai, we have decided to shift the launch date of the Xylo from this month to next month” Mahindra said.

Tata,Maruti Suzuki,Mahindra and GM to cut prices

Owing to CENVAT rate cut by Government of India, car makers are set to cut the prices of their models.  Maruti Suzuki , Tata Motors, GM India and Mahindra & Mahindraannounced that they would pass on the entire benefit of the four per cent cut in Central Value Added Tax to the consumers. The ad valorem component of large cars have been reduced from 24 per cent to 20 per cent. In case of small cars, the ad valorem component has been reduced to 8 per cent from 12 per cent. Maruti Suzuki Chairman R C Bhargava said: “A four per cent reduction in CENVAT means price of each product will come down by four cent… as per my understandingall car prices are likely to come down by four cent.” Tata Motors spokesperson said: “The company will pass on the benefit… across products– passenger and commercial vehicles. We are still working on the details.” Mahindra and Mahindra President (automotive sector) Pawan Goenka said, “We will absolutely pass on the benefit…with immediate effect…. This will certainly help in increasing the demand”. P Balendran, Vice-President, GM India, also said that the company will pass on the benefit to the customers.

Price cut is expected to be in the range Rs10000 – Rs20000 depeding on the various models. More details on Government Rs300,000crores stimulus package and its impact on automotive industry at http://vicky.in/stocks

Tata Motors showcases Indica Electric EV

Tata Motors showcased its Indica Electric EV at the ongoing Bologna Motor show.  Tata’s Indica Electric EV is equipped with high capacity lithium ion batteries. According to Tata, the small four-passenger car (Indica Electric EV) can travel 200 km (124 mi) on a single eight hour charge and can hit 60 mph in less than 10 sec.  Indica electric ev can be fully charged in eight hours. Tata produces the Indica electrric ev in association with Miljo Grenland’s latest lithium-ion battery technology and the testing of the car is still underway. Tata expects to launch the Indica EV next summer.

Pictures of Indica Electric EV

Toyota to hike prices of Corolla altis and Innova

Toyota today joined the bandwagon of auto makers to raise prices of thier models in January 2009. While manufacturers are offering plenty of discounts this month, Honda and GM has already said they would raise the prices next month. Toyota plans to raise the prices of Innova and Corolla altis by 3%. Innova which retails at Rs 12 lakh – Rs14 lakh will witness a price hike  by Rs20,000 to Rs30,000. Though the corolla altis fails to meet the Toyota’s sales target of 2000 units every month. The Deputy Managing Director of Toyota India Mr Sandeep Singh, told that the price increase was imperative as import costs had gone up following the rapid weakening of the rupee against the dollar. Both models have an appreciable import content of over 40 per cent. “We had factored in costs and selling prices at a conversion of Rs 42 to a dollar. Today, the scenario has changed completely and we just cannot afford imports at Rs 50 (to a dollar),” he added.