Heralding the government's package to stimulate the economy, Hindustan Motors Limited (HML) on Tuesday offered to cut prices of its Ambassador Cars. Hindustan Motors on Monday offered to cut prices of its Mitsubishi vehicles by up to 4% and confirmed a price revision after the excise duty reductions were announced.
The government’s stimulus package, which specified a 4% reduction in Cenvat has led to this initiative by HML. The Company is passing on the benefit of the duty cut to the customers who can expect cut in Ambassador prices from mid-night today.
Ambassador prices would be downward revised in the range of Rs 10,000 to 14,500, depending on the model. Ambassador is sold in 1.5L, 1.8L & 2. L options and is available in Petrol, Diesel, CNG & LPG variants.
Ambassador cars are sold primarily to the Taxi and Government segment. Of late the individual segment is also showing interest in the vehicle with a lot of ex pats and high profile individuals like fashion designer Manish Arora, Sitar Maestro, Pt. Ravi Shankar using it as their personal vehicle. Ambassador’s bullet proofing capabilities in terms of its load bearing capacity is also drawing people to it.
"We have responded to the Government’s move by passing on the benefit from the excise duty cut to our customers immediately. This move will certainly help in increasing demand for our entire product portfolio,” said HML Managing Director, Mr Ravi Santhanam.
Hindustan Motors had reduced the prices of all Mitsubishi models - Lancer, Cedia, Pajero, Outlander and Montero.
Mr. Y.V.S Vijay Kumar, Executive Vice-President and SBU head Hindustan Motors said, “The appreciation of the US dollar against rupee and rise of Japanese Yen against the rupee had pushed the prices of our vehicles up. Now that the government has reduced the excise duty, we wanted to pass the benefit to our customers and spur-up the demand for our performance vehicles.”
The ex-showroom prices of the models would be the same across the country as HM-Mitsubishi follows the one country, one price concept in India. The existing schemes applicable on HM- Mitsubishi models will also continue along with the price revision. |
