New Delhi: Hero Motocorp and Honda Motorcycle & Scooter India have announced price cuts across models. Likewise, Yamaha India is also working on a similar price cut.
“The firm had decided to pass on the entire benefit of excise duty cut to the customers. We have judiciously spread out the price cut across our product portfolio ranging from 2 per cent going up to 5 per cent with the maximum reduction being Rs 4,500," said a spokesperson from Hero MotoCorp.
Hero MotoCorp's bike portfolio includes Karizma ZMR, Impulse, Splendor and Glamour.
HMSI slashed the prices by Rs 1,600 on Dream Neo motorcycle, priced between Rs 43,150 and Rs 47,289, and goes up to Rs 7,600 on CBR 250R performance bike tagged between Rs 1.58 lakh and Rs 1.93 lakh (ex-showroom Delhi).
“Honda welcomes the excise duty relief given to auto industry in the interim budget. In line with its customer-friendly approach, Honda has decided to pass on the full benefit of 4 per cent excise duty reduction on two-wheelers to its valued customers across India with immediate effect. Now, all Honda two-wheelers are even more affordable,” said YS Guleria, vice-president for marketing and sales, HMSI.
HMSI sells a range of scooters including the Activa and Deo, and motorcycles such as Dream Yuga, CB Stunner, CB Unicorn and CB Twister among others.
Presenting the interim budget on Monday, finance minister P Chidambaram announced reduction in excise duty on small car, motorcycles, scooter and commercial vehicles to 8% from 12%, and on SUVs to 24% from 30%.
In a bid to provide relief to the automobile industry, where sales have declined, the government had lowered excise duty till 30 June.