Well known face of the auto producer Tata Motors bse 0.79 % and General Motors India has recently published they will cut costs of their vehicles after Finance Minister P Chidambaram chose to diminish extract on autos meanwhile Budget 2014-15.
"We will definitely pass on the benefits of these excise reductions to the consumers for our new dispatches from tomorrow (as applicable) and are working on the details of the exact reductions," a Tata Motors spokesperson told PTI.
Market leader Maruti Suzuki IndiaBSE 1.02 % MD and CEO K Ayukawa said that, "We hope it will revive sentiment, and encourage people to buy automobiles. With passenger vehicle industry in negative zone this year, this was a much needed step."
The different cuts over the distinctive classes of traveler and business vehicles is an extremely positive venture as these will make the vehicles more moderate to the buyers and the transporters, she included.
"GM India will pass on the excise duty relief to its consumers and is currently studying the fine print to determine the exact amount across its car lines," General Motors India Vice- President P Balendran said.
Social order of Indian Automobile Manufacturers (SIAM) President Vikram Kirloskar said the decrease in extract obligation might diminish value along these lines making vehicles more moderate which might enhance the buyer assessment and surely restore the interest for vehicles. "This could hopefully herald a revival of the manufacturing sector in the days to come," he added.
Honda cars India Sr Vice President - Marketing and Sales, Jnaneswar Sen added, "These reductions will propel demand in the coming months and anchor support for a better first quarter. It will give a much needed boost to the industry as it looks to recover from the ongoing slow down," he added.