IAB Report – Hero Motocorp and Honda 2Wheelers announce price cuts

Posted on: Feb 19, 2014 - 10:02am IST

Following the cut in excise duty by the Union Finance Minister on Monday, automobile manufacturers have begun announcing price cuts to products in their portfolio.

New Hero Super Splendor side (right)
Hero Motocorp has announced that it would pass on the entire benefits from the duty cuts to its customers.

After Audi and Mercedes-Benz yesterday, today is the turn of the two-wheeler manufacturers, with two of India’s biggest OEMs announcing price cuts.

Hero Motocorp, India’s largest two-wheeler manufacturer announced that it would pass on the entire benefit of the excise duty cut to its customers. The maximum reduction the company offers is Rs 4,500, presumably for their most expensive models. Price cuts from the company range between 2 and 5 percent.

Honda Dream Neo red
Honda’s Dream Neo is now cheaper by Rs 1,600.

Honda Motorcycles and Scooters India, on the other hand, have announced that the company is dropping the price of the 110 cc Dream Neo by around Rs 1,600. The bike is priced between Rs 43,150 and Rs 47,289. The company’s price cut also extends to the top-end CBR 250R that is now Rs 7,600 cheaper. The CBR 250R is priced between Rs 1.58 lakh and Rs 1.93 lakh.

Note that all-prices are Ex-showroom, New Delhi.

TVS Jupiter front
TVS will also pass on the benefits from the duty reduction to its customers.

TVS Motor Company has also said that it would pass on the benefits from the excise duty cuts to its customers.

On Monday, Finance Minister P Chidambaram surprised the industry by providing a range of excise duty cuts, dropping rates for SUVs from 30 to 24 percent, large cars from 27 to 24 percent, medium sized cars from 24 to 20 percent and small cars, two-wheelers and CVs from 12 to 8 percent.

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One thought on “IAB Report – Hero Motocorp and Honda 2Wheelers announce price cuts

  1. AmAdmi says:

    High petrol price Vehicles movement slowdown, new budget assured all this manufacturing companies by reducing exise duty (its opertunity to govt. to receive more bribes through Oil Imports and Automobile manufactures ), end result AmAdmi sabotage.

    Reply

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About the Author
Karthik
Karthik H

A bit of a car freak and a bike nut, and a fan of trucks and technology too. Expect sharp stories that focus on those four fronts. As always, stay tuned to IndianAutosBlog.com for quick and unassuming updates from across the world.