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Rediff News  All News  » Business » Ford India cuts prices by up to Rs 1.07 lakh

Ford India cuts prices by up to Rs 1.07 lakh

February 21, 2014 13:37 IST

Image: New Ford Fiesta.
Photographs: Courtesy, IndianAutosBlog PTI

Ford India on Friday announced reduction in the prices of its vehicles by up to Rs 107,000 across various models after the excise duty cut announced in the interim Budget.

"Ford India has passed on the benefits of recent excise duty reduction to customers and has revised the prices of its products with immediate effect," the company said.

The reductions will be applicable across Ford Figo, Ford Classic, Ford EcoSport, Ford Fiesta and the Ford Endeavour.    

. . .

Ford India cuts prices by up to Rs 1.07 lakh

Image: Ford EcoSport.

Prices of hatchback Ford Figo have been reduced up to Rs 23,399, while that of Ford Classic up to Rs 24,056, the company said.

The prices of compact sports utility vehicle Ford EcoSport have been reduced up to Rs 25,947.

Ford Fiesta and Ford Endeavour will offer benefits up to Rs 32,961 and Rs 1,06,753 respectively, the company said.

Commenting on the move, Ford India Executive Director, Marketing, Sales and Service Vinay Piparsania said: "Reduction of excise duty is a welcome step for the automotive industry and is timely with de-growth the industry is currently witnessing.

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Ford India cuts prices by up to Rs 1.07 lakh

Image: Kumar Galhotra, Vice-President, Engineering, Ford Motor Co, stands next to a Ford Figo global compact concept car at a press preview in New Delhi February 3, 2014.
Photographs: Adnan Abidi/Reuters

“We hope it will have a positive impact on consumer sentiment and stimulate pent up demand."    

In a separate statement, VE Commercial Vehicles also announced price cuts on Eicher trucks and buses effective from February 18, 2014 to pass on full benefit of the 4 per cent excise duty reductions to its customers.

. . .

Ford India cuts prices by up to Rs 1.07 lakh

Image: Workers make final inspections on Figo cars lined up at the assembly line at a plant of Ford India in Chengalpattu in the outskirts of Chennai.
Photographs: Babu/Reuters

Earlier this week, other major auto companies, including Maruti Suzuki India, Hyundai Motor India, Honda Cars India, Volkswagen, Mahindra & Mahindra, Fiat, Mercedes Benz and Audi, have announced price cuts to pass on the benefit of excise duty cut to consumers.

In the interim Budget, Finance Minister P Chidambaram cut excise duty to 8 per cent from 12 per cent for small cars, scooters, motorcycles and commercial vehicles; 24 per cent from 30 per cent for SUVs; 20 per cent for mid-sized cars from 24 per cent and 24 per cent for large cars from 27 per cent.

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