According to the excise duty reduction in the Interim Budget, the prices of cars and bikes will be reduced. The Vehicle manufactures announce the revised prices as per the excise duty reduction. Excise duty on motorcycles and small cars should be reduced from 12% to 8%. Sport Utility Vehicles (SUV) will come down to 24% from 30%. The large cars should come with 20%-24%. The excise duty will be applicable up to June 20, 2014.
Honda Motorcycles and Scooters India (HMSI) has announced that it will give 4% reduction on two wheeler as per the excise duty. The reduction starts at Rs 1600 on its Dream Neo and up to Rs. 7600 on CBR 250R.
Hero Motocorp has declared that the it will follow 4% – 6% excise duty reduction with the maximum amount of Rs.4500. DSK Hyosung has released the amount of price cut on its vehicles. It will reduce Rs. 10,000 to 12,000 on their bikes.
In Cars segment, Nissan the Japanese auto maker has released the price details of its cars such as Micra, Micra Active, Terrano and Teana. The cars Micra, Micra Active and Terrano will get 4% excise duty reduction while the Teana will get 3% . Terrano is expected to get 6% excise duty reduction. India’s largest car maker, Maruti will reduce the prices of its cars. It will announce the new revised price list.
