The Auto industry is quick to take the opportunity of passing the benefits of the excise duty cut to the customers. A day after the announcement of excise duty reduction for cars in Interim Budget 2014, a whole bunch of car and bike makers have come with official statements, announcing 100% passage of duty cut benefits to their customers. The latest carmaker to join the list is Volkswagen. The German car maker has released an official statement, declaring a reduction in its model prices following the duty cut.
Following the recently announced cut in excise duty in the interim budget, Volkswagen has reduced prices of all its cars in the Indian market. Prices for the Volkswagen Polo have been reduced by Rs 18,000-Rs 31,000. For the Vento, prices have been reduced by Rs 14,500-Rs 27,000. Jetta prices have been reduced by Rs 38,000-Rs 51,000.
“We welcome the Government’s decision to reduce excise duty on cars and we at Volkswagen have decided to pass on the entire benefit to our customers. We hope this move will help improve the market sentiment in the automotive industry,” said Mr. Arvind Saxena, Managing Director, Volkswagen Passenger Cars.
Excise benefits will be applicable with immediate effect.