now cost Rs 29.6 lakh.
Mahindra & Mahindra said the price reduction for its vehicles is between R13,000 and Rs 49,000. Accordingly, the price range will now be between Rs 6.7 and Rs 17.3 lakh against the earlier Rs 6.9 and Rs 17.8 lakh. The company also lowered prices of its premium SUV, Rexton, by up to R92,000.
Fiat said its cars would now be Rs 8,000-Rs 12,000 cheaper, depending on the variants. The company sells the Punto and Linea models in the country. Volkswagen cut prices of its cars in India in the range of Rs 14,500 and Rs 51,000.
On the luxury front, Mercedes-Benz India said its C-class Avantgarde edition will now cost R39.35 lakh, down from R39.90 lakh. The GL-class SUV will now cost R2 lakh less.
In the two-wheeler sector, Honda Motorcycles and Scooters India has reduced prices by R1,600 on the Dream Neo and going up to R7,600 on the CBR 250R. Hero MotoCorp models will become cheaper by 4-6% with the maximum being up to Rs 4,500.
The excise duty has been cut to 8% from 12% for small cars, scooters, motorcycles and commercial vehicles; 24% from 30% for SUVs; 20% for mid-sized cars from 24% and 24% for large cars from 27%.