Ford India has announced a price cut following the reduction of excise duty announced in the Interim Budget by India’s Union Finance Minister, Mr. P. Chidambaram. The price cuts vary from Rs 23,999 to Rs 1.07 lakh across various models in its lineup.
The company issued a statement saying, "Ford India has passed on the benefits of the recent excise duty reduction to customers and has revised the prices of its products with immediate effect." Ford will now offer Figo hatchback with a price cut of up to Rs 23,399. The Ford Classic sedan will get cheaper by up to Rs 24,056 and the EcoSport compact sedan by up to Rs 25,947. The Ford Fiesta will be available for Rs 32,961 less while the Ford Endeavour SUV gets a massive Rs 1.07 lakh pricecut."
Speaking about the excise duty cut, Vinay Piparsania, Ford India Executive Director, Marketing, Sales and Service, said, "Reduction of excise duty is a welcome step for the automotive industry and is timely with the de-growth the industry is currently witnessing. We hope it will have a positive impact on consumer sentiment and stimulate pent up demand."
Ford has joined other car manufacturers like Honda, Hyundai, Maruti Suzuki and Volkswagen who announced a decrease in the prices of their products after the excise duty of small cars was reduced to 8 per cent from 12 per cent, in the Interim Budget. The auto industry has been facing a negative growth for quite some time now and this announcement might just be the shot in the arm the industry needs.