Ford became the latest automobile manufacturer to join other companies in cutting car prices. A rate cut comes on the back of revised excise duty announced in the 2014 interim budget. Ford has cut prices for its EcoSport, Figo, Classic, Fiesta and Endeavour after excise duty for cars was reduced by 3-6 percent, by Finance Minister P Chidambaram, across different segments.
Ford EcoSport compact SUV has seen a constant upward price revision since it was launched with an introductory price well within Rs six lakh. The Ford EcoSport is now cheaper by around Rs 26,000 riding on the cut in excise duty. Apart from the EcoSport, the Figo will now be cheaper by around Rs 23,000, while the Classic entry-level sedan, whose prices were cut just a month ago, will cost Rs 24,056 less. However, the steepest price cut will be for the Endeavour, which will be a full Rs 1,07,000 cheaper than before.
The price cut across companies is expected to push sales higher. This, coupled with election demand will give the Indian automobile industry a likely boost in numbers.
(All prices ex-showroom, Delhi)