JK Tyre has reduced tyre prices for commercial vehicles, following a two per cent excise duty cut announced by the government yesterday.
The company will reduce the truck-tyre prices in the range of Rs 125-175 per tyre, while the prices of other commercial vehicles' tyres will be reduced by 1.5 per cent. However, the car-tyre prices will not be reduced.
"We are not touching the car-tyre prices because we have already reduced them twice in January," JK Tyre Marketing Director A S Mehta said.
Additionally, the firm has already cut prices of car tyres under an offer announced this month, he added. The reduction has been made effective midnight last night.
Leading tyre maker Apollo Tyres has already announced slashing of prices of all commercial radial and cross ply tyres with effect from midnight of February 25.
Post the four per cent reduction in CENVAT last year, commercial vehicles tyres and auto components attracted a duty of 10 per cent. The latest two per cent reduction by the government is applicable to only those categories, which attracted a 10 per cent excise duty.
