Tata Motors, India's largest automobile company, has slashed Passenger vehicles (PV) prices by Rs 6300 -Rs 69000 & Commercial vehicles (CV) prices by Rs 15,000-Rs 1.5 lakh. This development comes after government announced a cut in excise duty in the vote on account. In the interim Budget 2014-15, while the excise duty for small cars, scooters, motorcycles and commercial vehicles was cut to 8% from 12%, it was slashed to 24% from 30% for SUVs. Besides, excise duty on large cars too, were reduced to 24% compared with 27% earlier.
Tata Motors is India’s largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.