NEW DELHI, Sept. 25 (Xinhua) -- India's ace car manufacturer Maruti Suzuki on Wednesday announced price cut on its ten different models by 5000 Indian Rupees (approx. 71 U.S. dollars), on their ex-showroom value, in a bid to boost sales amidst the ongoing economic slowdown.
The new prices will be applicable with effect from Wednesday across the country, said company sources.
"This reduction of price will be over and above the current promotional offers for the company's vehicle range," said the company in a statement issued Wednesday.
It added "The Company is optimistic that the price reduction will bring down the cost of acquisition especially for the entry-level customers. This announcement around the festive season will help boost customer sentiment and revive the market to create demand."
Maruti's popular models on which the prices have been slashed include -- Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross.
Only a couple of days ago, the Indian government had lowered the Corporate Tax rate from 30 percent to 22 percent for the existing companies.
The country's automotive sector has been facing a slowdown even as sales of passenger cars and commercial vehicles have been witnessing a dip over the past ten months.
