Car maker Skoda India said it will cut prices of its products by up to Rs 51,500 following the four per cent reduction in CENVAT.
"To pass on the benefit of the CENVAT reduction by the government, the company will slash prices between Rs 12,500 and Rs 51,500 across all models," Skoda India board member (sales and marketing) Thomas Kuehl told PTI.
The company was currently working on the details of price cut on various models, he added.
"We are also in negotiations with the dealers for sharing the burden as they already have old stocks," Kuehl said.
Skoda India had cut productions in August this year due to slowdown in the market, but currently it was not producing less, Kuehl said.
"With this (reduction in prices), we are expecting a boost in demand for our cars," he added.
Skoda India launched on Wednesday an exclusive showroom at Faridabad in the National Capital Region.
"Total number of our dealers will be increased to 65 by the end this year from the current 56," Kuehl said, adding the company would keep expanding its dealership network in the coming years as well.
Besides, to expand its product portfolio in the domestic market, the company would launch two new models next year, apart from introducing new variants of the existing cars.
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