India's Maruti Udyog says to cut small car prices

Newswire

MUMBAI, Feb 28 (Reuters) - India's top car maker, Maruti Udyog Ltd. , said on Tuesday it would cut prices of its small cars by 13,000 rupees to 22,000 rupees following an excise duty cut in India's federal budget for the year to March 2007. Finance Minister Palaniappan Chidambaram proposed to cut the excise duty on small cars to 16 percent from 24 percent. Maruti Udyog Managing Director Jagdish Khattar told a television news channel the company would cut prices of its small car models to ...

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