Interim Budget has been announced with many good and bad things for all. The budget has announced lower excise duties on vehicle hearing which Hero Moto Corp and Honda Motorcycles India Limited has cut down the prices of their vehicle range. This has made a total cut of upto 5% on two wheelers. The budget has announced the slash in excise duties over other vehicles also including motorcycles, scooters, commercial vehicles, cars and SUVs.
This price cut will show itself maximum upto Rs. 4,500 for Hero Moto Corp and Rs. 7,500 for Honda (HMIL). The benefit grabbers from Honda will be Activa and Deo, Dream Neo, Dream Yuga, CB Twister, CB Stunner, CB Unicorn, CB Trigger and CBR 250R. The Dream Neo which is priced least in the category of motorcycles will receive a discount of Rs. 1,600 while the most expensive CBR 250R will receive Rs. 7,600 slash.
On the other hand Hero Moto Corp will show their relaxation over its wide range of vehicles which include Pleasure, Maestro, Splendor, Passion, Glamour, Xtreme, Hunk, Impulse, Karizma and Karizma ZMR. The company will show a discount of maximum Rs. 4,500. The company personnel said while announcing this cut, "We have decided to pass on the entire benefit of the excise duty cut to our customers. We have judiciously spread out the price cut across our product portfolio ranging from 2 per cent going up to 5 per cent with the maximum reduction being Rs 4,500".
During the Interim Budget, the union Finance Minister Mr. P. Chidambaram said that the vehicle will be getting slashes in excise duties as per their category. Motorcycles, Scooters, small cars and commercial vehicles will receive 8% excise duties which was 12% till budget. Same happens with other vehicle range including medium sized cars which will receive 20% instead of 24%, large cars with 24% from 27% and SUVswill receive this cut from 30% to 24%.
