India's No 1 carmaker cuts price of top model

Newswire

NEW DELHI, July 23 (Reuters) - India's largest carmaker, Maruti Udyog Ltd, a unit of Japan's Suzuki, announced on Tuesday it had cut the price of its largest-selling car by up to nine percent, hoping to win back market share in a shrinking industry. Maruti, in which its Japanese parent holds a 54.2 percent stake and the Indian government the rest, said it was reducing the showroom price of its mini-car, the Maruti 800, by 6.6 to 8.7 percent or 15,000 to 18,000 rupees ($308-$370). Several ...

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