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Old 8th December 2008, 15:48   #31
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Has any manufacturer so far made an official announcement along with a list of price cuts? I have only seen speculations from the media so far.

Wonder how Honda and Toyota would react to this. They were contemplating price hikes in Jan.
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Old 8th December 2008, 16:09   #32
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Originally Posted by CBlazer View Post
Has any manufacturer so far made an official announcement along with a list of price cuts? I have only seen speculations from the media so far.

Wonder how Honda and Toyota would react to this. They were contemplating price hikes in Jan.
actually....after the duty cut...honda and toyota are not going to cut prices...but which also not increase them which they were supposed to do due to dip in rupee value
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Old 8th December 2008, 16:21   #33
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Originally Posted by CBlazer View Post
Has any manufacturer so far made an official announcement along with a list of price cuts? I have only seen speculations from the media so far.

Wonder how Honda and Toyota would react to this. They were contemplating price hikes in Jan.
A tata dealer contacted me today to tell me that the prices are going down and he would know the revised prices by EOD today. So looks like it is for real and with immediate effect.
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Old 8th December 2008, 16:32   #34
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Blazer,
Its not a speculation. M&M,Tata, Maruti & GM rep's already conveyed this to media and you can see the link in one of my previous post in this thread.Any way they have to pass on the benefit to customers...with immediate effect....

CENVAT cut will be on Ex Showroom price.

Note: Just called up Matuti Anytime and customer service associate told that, They are yet to receive official circular reg. price cut despite of R.C. Bhargava's announcement.
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Old 8th December 2008, 17:07   #35
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Any way they have to pass on the benefit to customers...with immediate effect....
They are cutting prices to attract demand which was the obvious intention of the duty cuts. They do not have to as they are under no government compulsion to pass on the benefit.
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Old 8th December 2008, 17:57   #36
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As per my calculations Swift Vdi and Vista should get cheaper by 20k. However what i wanna know is whether the soon to be launched Xylo,Linea and i20 will reduce any prices?
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Old 8th December 2008, 18:19   #37
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vasudeva : They do not have to as they are under no government compulsion to pass on the benefit.
Continuing to use old (higher) CENVAT rates will be illegal.

The one way that companies can maintain same prices is to offset the lower CENVAT with higher factory price.

But why would any company do such a thing ? A move like that will be seen as challenging the Fin Min & the government.
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Old 8th December 2008, 18:58   #38
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Toyota has cut their car price by around 28,000 to 1+ lac for their various models. I guess I saw this news in CNBV TV18.

Regards,

Ravi.
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Old 8th December 2008, 19:04   #39
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Continuing to use old (higher) CENVAT rates will be illegal.

The one way that companies can maintain same prices is to offset the lower CENVAT with higher factory price.

But why would any company do such a thing ? A move like that will be seen as challenging the Fin Min & the government.
Not quite. Though the government's intention was to help companies to reduce their prices hoping to attract customers thus improving demand, they can choose to keep the post VAT price the same and improve their margins. The Cenvat reduction is applicable to consumer goods too. But I read in this morning's newspaper that these manufacturers plan to use the Cenvat reduction to offset the increase in input costs.

I guess companies like Honda, Toyota and Skoda would take the same route.
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Old 8th December 2008, 20:09   #40
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Toyota has cut their car price by around 28,000 to 1+ lac for their various models. I guess I saw this news in CNBV TV18.

Regards,

Ravi.
yeah. me saw it 2. says innova price cut ranges from 28 to 32k on d top end
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Old 8th December 2008, 22:19   #41
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I was just wondering if Maruti has announced the price reduction somewhere. Surprising that they were one of the first to mention that they will pass the benefit to the customer. Nothing on their website or from their deealers. Waiting for tomorrows newspaper.
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Old 8th December 2008, 23:44   #42
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Was in touch with couple of Tata dealers throughout the day as I am buying two cars from them this week. Till EOD no info on price reduction. I'm surprised and eagerly waiting to hear from Tata.
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Old 8th December 2008, 23:47   #43
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yeah. me saw it 2. says innova price cut ranges from 28 to 32k on d top end
Whats the revised pricing on the Corolla Altis A/T?
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Old 9th December 2008, 00:05   #44
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Had contacted GM Area sales manager today, he said prices will be updated by tonight and will be confirmed by tomorrow.
@Bouncer - Sir, In my case I have booked the car, car had been allotted last week, and was in transit. When it reached the warehouse, made the downpayment, and got loan papers processed. On contacting salesperson, he says- since car has been invoiced already and despatched from factory to them - i might not get the cenvat reduction benefit. Subsequently, spoke to GM- they say since car has been already billed from the factory- It's a pending issue. Will come to know today morning. Keeping my fingers crossed.
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Old 9th December 2008, 00:07   #45
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I went to a chennai based maruti dealer for booking Swift Lxi. Since I need a Proforma for loan formalities , I asked this to sales guy and he was in dilemma. Then he said tomorrow he may get official mail and he will update me after that.

I think they are in a confusion that whether they can pass the benefit to customer for the cars which alreday in their yard.
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