Hero, Honda, TVS and Hyosung bikes get cheaper
After the interim budget, two-wheeler manufacturers have started to slash the prices of their entire product range. The costs of the vehicles are decreasing due to the relaxation...
After the interim budget, two-wheeler manufacturers have started to slash the prices of their entire product range. The costs of the vehicles are decreasing due to the relaxation in excise duty announced by the Indian Finance Ministry. So, the price cut depends on the dimensions and engine capacity of the vehicle, which means different models will be benefited with the different amount.
The leading Indian brand, Hero MotoCorp Limited (HMCL) has announced to give full benefit of slashed excise duty as soon as possible in its official statement. HMSI said, "We have decided to pass on the entire benefit of the excise duty cut to our 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."
The wing of the Japanese auto major and second largest two wheeler manufacturer in India, Honda Motorcycles and Scooter India limited (HMSI), also announced to provide the whole benefit due to 4 percent relaxation in excise duty to its customers in India. HMSI has announced to provide discount ranging between Rs. 1,600 to Rs. 7,600 on the price of its product range, starts from the most affordable- Honda Dream Neo at Rs. 43,150 - 47,289 (ex-showroom, Delhi) and goes up to Honda CBR250R at Rs. 1.58 – 1.93 lakh (ex-showroom, Delhi).
The home grown company, TVS motors, has also declared to provide the benefit of price cut to its customers. However, it didn't,t disclosed any details of an exact amount to be deducted from the prices for now.
The South Korean brand in partnership with Indian business group, DSK Hyosung also going to provide the discount and said that it will cause to a positive growth in Indian auto industry. Mr. Shirish Kulkarni, Chairman DSK Hyosung said, “We at DSK Hyosung welcome this change which comes as a great relief to the Automobile Industry that has been suffering from negative growth. We will ensure that the benefits of reduction in excise duty from 12% - 8% are made available to our customers. We are sure relaxation on excise duty in this interim budget will foster and stimulate the growth in the entire automobile sector. Our concern lies in the fact that the duty shouldn’t be changed post elections. This benefit has to be sustained until the entire automobile sector reflects a growth back to 12 % - 15% at least.”
Other auto majors of the Indian two-wheeler market will also provide these benefits to their customers for sure. Right now, they have not disclosed any details about it, however, we believe that details from them will come out shortly.