AFP, Mumbai :
India’s biggest maker of passenger vehicles Maruti Suzuki cut prices of some car models Wednesday in a bid to boost sales as the auto sector struggles with weak demand amid a wider economic slowdown.
The price reduction for 10 models comes ahead of two of India’s biggest Hindu festivals, when automakers traditionally record their highest sales for the year.
The lead-up to the festive season has sent shudders through the sector, with passenger car sales in India recording their 10th-straight month of falls in August.
The government has announced a raft of initiatives in recent weeks to encourage consumers to open their wallets, and last week slashed corporate taxes to among the lowest in Asia.
Welcoming the tax cut, Maruti Suzuki said it would “share the benefits… with its customers” by cutting prices by 5,000 rupees ($70) immediately.
India’s biggest maker of passenger vehicles Maruti Suzuki cut prices of some car models Wednesday in a bid to boost sales as the auto sector struggles with weak demand amid a wider economic slowdown.
The price reduction for 10 models comes ahead of two of India’s biggest Hindu festivals, when automakers traditionally record their highest sales for the year.
The lead-up to the festive season has sent shudders through the sector, with passenger car sales in India recording their 10th-straight month of falls in August.
The government has announced a raft of initiatives in recent weeks to encourage consumers to open their wallets, and last week slashed corporate taxes to among the lowest in Asia.
Welcoming the tax cut, Maruti Suzuki said it would “share the benefits… with its customers” by cutting prices by 5,000 rupees ($70) immediately.
