Maruti Cuts Prices Others Likely To Follow - Dec 08, 2008

Major auto companies, including the market leader Maruti Suzuki, on Dec 7 announced to cut prices of its vehicles by up to 4 per cent on account of the government''s package to stimulate the economy. The government''s stimulus package, which announced 4 per cent reduction in Cenvat is likely to give a shot in arm to struggling auto sector, which has seen a slump in demand.

All major auto makers are expected to pass on the benefit of the duty cut to the consumers who can expect at least four per cent cut in automobile prices from December 7 midnight. Mahindra and Mahindra President (automotive sector) Pawan Goenka said.