Ford India, the Indian arm of the American automobile manufacturer Ford has announced its decision to reduce prices across five of its car models in its car portfolio in India. The price reduction is in response to the relaxation in the excise duty by the Finance Ministry of India.
Following the reduction in the excise duty from 12 percent to 8 percent, the carmaker reduced the prices on its car models up to approximately Rs 1,00,000. While the price of the Figo hatchback has been reduced by up to Rs 23,399, the Classic sedan has witnessed a decrease of up to Rs 24,056 in its price tag.
The carmaker has cut the prices on the EcoSport compact SUV by Rs 25,947. The Fiesta sedan has seen a price reduction of Rs 32,961 while the Endeavor sport utility vehicle has witnessed the largest price cut of up to Rs 1,06,753.
According to Mr. Vinay Piparsania Executive Director (Marketing, Sales and Service) Ford India, the relaxation of excise duty has come at a time when carmakers in the Indian auto industry have been facing hardships with slow sales growth and sluggish economic activity.
Mr. Piparsania added that the excise rate cut will have a positive impact on the consumer buying sentiments and bring about sales stimulation in the market.
