Maruti Suzuki announced a massive decrease in prices of its popular Baleno model car will be cheaper by RS.1 lakh.
“This is to inform that Maruti Suzuki India Limited announced a price reduction of select models by Rs.5,000/- on September 25, 2019. Along with the above reduction, the company has also reduced the Ex-Showroom price of its model i.e. Baleno RS by Rs.100,000/-,” the carmaker said in a BSE filing.
Earlier on Wednesday, India’s largest vehicle manufacturer had reduced the prices of entry-level cars and diesel variants of all products by Rs.5,000. The list includes some of its bestselling cars like , Celerio, Baleno Diesel, Ignis, Dzire Diesel,Swift Diesel Tour S Diesel, Alto 800, Alto K10 S-Cross and Vitara Brezza. Navratri and Diwali festive season, the price cut will boost customer sentiment and revive the auto market hit by slumping demand.
Finance Minister Nirmala Sitharaman had recently reduced the effective corporate tax rates to 22% from 30% for all domestic companies. Maruti is seen as passing on the benefits to consumers.
Maruti is also having various promotional offers varying from ₹40,000 to Rs.1 lakh on different models. It had earlier said that it is optimistic that the price reduction will bring down the cost of acquisition, especially for entry-level customers. “This announcement around festival season will help boost customer sentiment and revive the market to create demand,” Maruti had earlier said in a press release.