Automobile major Ford India today announced a 3 per cent reduction in prices across its model range including Fusion, Fiesta and Endeavour.
The price cut, which came into effect since yesterday, follows the 4 per cent reduction in advalorem cenvat rates announced by the government earlier this week.
''We are supportive of the government's action on reduction of cenvat and see this as a welcome move. This will bring some relief to the Indian automotive industry in general. With that in mind we will be passing on the benefit of the duty cut to our customers,” said Michael Boneham, president, Ford India, on the price cuts.
The price reduction ranges from Rs.17,500 to Rs. 54,000, across various variants and model ranges, with SUV Endeavour's price dropping by Rs. 54,000 on its top end variant to Rs 1,719,000.
''We recognize the need to boost customer confidence in these times as they look for increased value for money. With these changes the consumers will get yet another reason to cheer and utilize this opportunity.'' added Boneham.